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Contribution Details
| Type | Journal Article |
| Scope | Discipline-based scholarship |
| Title | Risk and rationality: The effects of mood and decision rules on probability weighting |
| Organization Unit | |
| Authors |
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| Item Subtype | Original Work |
| Refereed | Yes |
| Status | Published in final form |
| Language |
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| Journal Title | Journal of Economic Behavior & Organization |
| Publisher | Elsevier |
| Geographical Reach | international |
| ISSN | 0167-2681 |
| Volume | 78 |
| Number | 1-2 |
| Page Range | 14 - 24 |
| Date | 2011 |
| Abstract Text | Empirical research has shown that people tend to overweight small probabilities and underweight large probabilities when valuing risky prospects, but little is known about factors influencing the shape of the probability weighting curve. Based on a laboratory experiment with monetary incentives, we demonstrate that pre-existing good mood is significantly associated with women’s probability weights: Women in a better than normal mood tend to weight probabilities relatively more optimistically. Many men, however, seem to be immunized against effects of incidental mood by applying a mechanical decision criterion such as maximization of expected value. |
| Digital Object Identifier | 10.1016/j.jebo.2010.12.004 |
| Other Identification Number | merlin-id:6791 |
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