Emotion and Reason in Everyday Risk Perception

18 Pages Posted: 19 Oct 2008

See all articles by Robin M. Hogarth

Robin M. Hogarth

Universitat Pompeu Fabra - Faculty of Economic and Business Sciences

Mariona Portell

University of Barcelona

Anna Cuxart

Universitat Pompeu Fabra

Gueorgui I. Kolev

EDHEC Business School

Date Written: September 1, 2008

Abstract

The importance of emotion in risk perception has been well documented in field and experimental studies. However, little is known about its role in everyday life. On thirty occasions over ten consecutive working days, ninety-four participants were prompted at random - via mobile telephones - to report on their emotions and to assess perceived risks. Subsequently, risks associated with six occasions were re-assessed. Emotion was found to explain significant variance in risk perception over and above "reason" (assessed severity and possibility of risks) and to contribute to the tendency to assess risk lower in retrospect than when experienced. Our investigation illuminates the pervasive role of emotion in everyday risk perception and the value and feasibility of collecting meaningful samples of naturally occurring behavior with simple technology.

Keywords: Experience sampling method, multilevel analysis, risk perception, self-assessment manikinds (SAM)

JEL Classification: C39, C93, M10

Suggested Citation

Hogarth, Robin M. and Portell, Mariona and Cuxart Jardi, Anna and Kolev, Gueorgui I., Emotion and Reason in Everyday Risk Perception (September 1, 2008). Available at SSRN: https://ssrn.com/abstract=1285453 or http://dx.doi.org/10.2139/ssrn.1285453

Robin M. Hogarth (Contact Author)

Universitat Pompeu Fabra - Faculty of Economic and Business Sciences ( email )

Ramon Trias Fargas 25-27
Barcelona, 08005
Spain
34 93 542 2561 (Phone)
34 93 542 1746 (Fax)

Mariona Portell

University of Barcelona ( email )

Gran Via de les Corts Catalanes, 585
Barcelona, 08007
Spain
+34 93 581 1376 (Phone)
+34 93 581 2001 (Fax)

Anna Cuxart Jardi

Universitat Pompeu Fabra ( email )

Ramon Trias Fargas 25-27
Barcelona, 08005
Spain
34-93-542-27-48 (Phone)
34-93-542-17-46 (Fax)

Gueorgui I. Kolev

EDHEC Business School ( email )

24 avenue Gustave Delory
CS 50411
ROUBAIX CEDEX 1, F- 59057
France
+33 (0) 320 154 558 (Phone)

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