UNSPECIFIED (2003) The influence of affect on risky behavior: From the lab to real world financial behavior. In: 25th Annual Conference of the Cognitive-Science-Society, JUL 31-AUG 02, 2003, Boston, MA.

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Abstract

There is some evidence indicating a relationship between variations in affect and risk aversion: under certain conditions the behavior observed suggests less risk aversion the more positive the affective state. The research presented in this paper examined how variations in everyday affective states influenced risk taking behavior in the laboratory using simple gambling tasks and then sought to corroborate findings in the laboratory using data on real world financial decision making. We observed a significant and positive relationship between affect and risky behavior in the laboratory that we replicated using structural equation modeling on real world financial data. It is argued that cognitive theories of affect and decision making might have real economic consequences.

Item Type:	Conference Item (UNSPECIFIED)
Subjects:	B Philosophy. Psychology. Religion > BF Psychology
Journal or Publication Title:	PROCEEDINGS OF THE TWENTY-FIFTH ANNUAL CONFERENCE OF THE COGNITIVE SCIENCE SOCIETY, Pts 1 and 2
Publisher:	LAWRENCE ERLBAUM ASSOC PUBL
ISBN:	0-8058-4991-2
Editor:	Alterman, R and Kirsh, D
Date:	2003
Number of Pages:	6
Page Range:	pp. 822-827
Publication Status:	Published
Title of Event:	25th Annual Conference of the Cognitive-Science-Society
Location of Event:	Boston, MA
Date(s) of Event:	JUL 31-AUG 02, 2003
URI:	http://wrap.warwick.ac.uk/id/eprint/34197

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