Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/98436
Authors: 
Conte, Anna
Levati, M. Vittoria
Nardi, Chiara
Year of Publication: 
2013
Series/Report no.: 
Jena Economic Research Papers 2013-046
Abstract: 
In the last decades, there has been a large volume of research showing that emotions do have relevant effects on decision-making. We contribute to this literature by experimentally investigating the impact of four specific emotional states - joviality, sadness, fear, and anger - on risk attitudes. In order to do so, we fit two models of behaviour under risk: the Expected Utility model (EU) and the Rank Dependent Expected Utility model (RDEU), assuming several functional forms of the weighting function. Our results indicate that all emotional states instigate risk-seeking behaviour. Furthermore, we show that there are some differences across gender and across participants´ experience in lab experiments.
Subjects: 
emotions
risk aversion
structural models
JEL: 
D81
C91
D00
Document Type: 
Working Paper

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