The Role of Affect in Reciprocity and Risk Taking: Experimental Studies of Economic Behavior

PhD Thesis# 372
Author:
Dr. Astrid (A.) Hopfensitz
Supervisor(s):
Prof. dr F.A.A.M. van Winden
Date:
2006-02-23

Abstract

In recent years, the attention for emotions research has been significantly rising in economics. However the experimental evidence of the impact of emotions on behavior is still scarce. This thesis experimentally studies behavior and emotions in economic decision, like bargaining and investment. Physiological and self-report measures are used to measure emotions and interpreted using psychological theories of emotions. The first part shows, how in social interactions emotions as anger, jealousy and guilt influence reciprocation of unkind behavior. In the second part, the importance of emotions like regret, hope and irritation is observed and discussed for the case of risky investment. The results from these studies enable us to better understand how (human) actors make (economic) decisions.

Publisher of the TI-theses is: Rozenberg Publishing Services