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      Emotion and Decision Making

      1 , 2 , 3 , 4
      Annual Review of Psychology
      Annual Reviews

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          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.

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          The affect heuristic in judgments of risks and benefits

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            Out of Control: Visceral Influences on Behavior

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              Spending money on others promotes happiness.

              Although much research has examined the effect of income on happiness, we suggest that how people spend their money may be at least as important as how much money they earn. Specifically, we hypothesized that spending money on other people may have a more positive impact on happiness than spending money on oneself. Providing converging evidence for this hypothesis, we found that spending more of one's income on others predicted greater happiness both cross-sectionally (in a nationally representative survey study) and longitudinally (in a field study of windfall spending). Finally, participants who were randomly assigned to spend money on others experienced greater happiness than those assigned to spend money on themselves.
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                Author and article information

                Journal
                Annual Review of Psychology
                Annu. Rev. Psychol.
                Annual Reviews
                0066-4308
                1545-2085
                January 03 2015
                January 03 2015
                : 66
                : 1
                : 799-823
                Affiliations
                [1 ]Harvard Kennedy School, Harvard University, Cambridge, Massachusetts 02138; email:
                [2 ]School of Business Administration, University of California, Riverside, California 92521; email:
                [3 ]Department of Psychology, Claremont McKenna College, Claremont, California 91711; email:
                [4 ]Department of Social and Decision Sciences, Carnegie Mellon University, Pittsburgh, Pennsylvania 15213; email:
                Article
                10.1146/annurev-psych-010213-115043
                25251484
                f85ee01f-1cfe-4b7d-b2fd-b69340910e00
                © 2015

                Social policy & Welfare,Medicine,Psychology,Engineering,Public health,Life sciences
                Social policy & Welfare, Medicine, Psychology, Engineering, Public health, Life sciences

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