Emotion and Decision Making

Posted: 9 Jan 2015

See all articles by Jennifer Lerner

Jennifer Lerner

Harvard University - Harvard Kennedy School (HKS)

Ye Li

University of California, Riverside (UCR) - Department of Management and Marketing; Center for Decision Sciences, Columbia University

Piercarlo Valdesolo

Claremont McKenna College - Department of Psychology

Karim S. Kassam

Harvard University - Department of Psychology

Date Written: January 2015

Abstract

A revolution in the science of emotion has emerged in recent decades, with the potential to create a paradigm shift in decision theories. The research reveals that emotions constitute potent, pervasive, predictable, sometimes harmful and sometimes beneficial drivers of decision making. Across different domains, important regularities appear in the mechanisms through which emotions influence judgments and choices. We organize and analyze what has been learned from the past 35 years of work on emotion and decision making. In so doing, we propose the emotion-imbued choice model, which accounts for inputs from traditional rational choice theory and from newer emotion research, synthesizing scientific models.

Suggested Citation

Lerner, Jennifer and Li, Ye and Valdesolo, Piercarlo and Kassam, Karim S., Emotion and Decision Making (January 2015). Annual Review of Psychology, Vol. 66, pp. 799-823, 2015. Available at SSRN: https://ssrn.com/abstract=2547444 or http://dx.doi.org/10.1146/annurev-psych-010213-115043

Jennifer Lerner (Contact Author)

Harvard University - Harvard Kennedy School (HKS) ( email )

79 John F. Kennedy Street
Cambridge, MA 02138
United States
617-495-9962 (Phone)

Ye Li

University of California, Riverside (UCR) - Department of Management and Marketing ( email )

United States

Center for Decision Sciences, Columbia University

New York, NY
United States

Piercarlo Valdesolo

Claremont McKenna College - Department of Psychology ( email )

850 Columbia Ave
Claremont, CA 91711
United States

Karim S. Kassam

Harvard University - Department of Psychology ( email )

1875 Cambridge Street
Cambridge, MA 02138
United States

Register to save articles to
your library

Register

Paper statistics

Abstract Views
1,358
PlumX Metrics