The Affection Effect in Insurance Decisions

By Christopher K. Hsee, Howard Kunreuther. 2006

218 citations recorded by the source corpus.

Subfields: Cognitive Neuroscience, General Decision Sciences, Safety Research

View Paper: https://www.semanticscholar.org/paper/ec72e187d13e17e76f69a6f0e6cf438826cfe47d

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Cognitive Neuroscience

1. Paul Slovic
2. Ellen Peters
3. Melissa L. Finucane
4. Daniel Västfjäll
5. Michel Tuan Pham
6. N. Bandelj
7. Elke U. Weber
8. Corinna E. Löckenhoff

In General Decision Sciences

1. Paul Slovic
2. Ellen Peters
3. Melissa L. Finucane
4. Elke U. Weber
5. Donald G. MacGregor
6. Daniel Västfjäll
7. N. Bandelj
8. Michel Tuan Pham

In Safety Research

1. Michel Tuan Pham
2. N. Bandelj
3. Ellen Peters
4. Paul Slovic
5. Daniel Västfjäll
6. Elke U. Weber
7. Corinna E. Löckenhoff
8. Violina P. Rindova

Citations in the corpus

• Affect, risk perception and future optimism after the tsunami disaster (2008, background): “Many of the negative effects of the feelings associated with a major environmental event such as risk aversion concerning travel after a disaster (Grandien et al., 2005) and over-insurance when affective images of terrorism are made salient ( Hsee & Kunreuther, 2000 ), as well as the impact of those”
• Heuristics and Biases: The Affect Heuristic (2002, unknown): “Hsee and Kunreuther (2000) demonstrated that affect influences decisions about whether to purchase insurance.”
• Goals and plans in decision making (2007, background): “Hsee and Kunreuther (2000) attribute the need for consolation as the reason why individuals are willing to pay higher premiums for the same amount of coverage for objects they love than for those where they don’t have special feeling.”
• Emotions in economic action and interaction (2009, background): “Likewise, Hsee and Kunreuther (2000) found that people were willing to pay twice as much to insure a beloved antique clock (that no longer works and cannot be repaired) against loss in shipment to a new city than to insure a similar clock for which one holds no special feelings.”
• Socioemotional selectivity theory, aging, and health: the increasingly delicate balance between regulating emotions and making tough choices. (2004, background): “Far from a systematic and rational analysis, real life decision making is heavily influenced by personal preferences, individual goals, and emotional states (e.g., Finucane, Alhakami, Slovic, & Johnson, 2000; Hsee & Kunreuther, 2000; Kunda, 1990).”
• Risk as Analysis and Risk as Feelings: Some Thoughts about Affect, Reason, Risk, and Rationality (2004, background): “Hsee and Kunreuther (2000) demonstrated that affect influences decisions about whether to purchase insurance.”