Do emotions matter? coherent preferences under anchoring and emotional effects

Arana Padilla, JE; Leon, CJ

Do emotions matter? coherent preferences under anchoring and emotional effects

Arana Padilla, JE Leon, CJ

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Publisher:: Elsevier BV
Publication Type:: Journal Article
Citation:: Ecological Economics, 2008, 1, 66 (4), pp. 700 - 711
Issue Date:: 2008-01

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Field	Value	Language
dc.contributor.author	Arana Padilla, JE	en_US
dc.contributor.author	Leon, CJ	en_US
dc.date.issued	2008-01	en_US
dc.identifier.citation	Ecological Economics, 2008, 1, 66 (4), pp. 700 - 711	en_US
dc.identifier.issn	0921-8009	en_US
dc.identifier.uri	http://hdl.handle.net/10453/28740
dc.description.abstract	Emotions can affect individuals' preferences and economic behavior. In this paper we consider the relationship between emotions and anchoring effects in non-market valuation. The findings show that although anchoring effects are relevant, elicited preferences are coherent, in the sense that they are sensitive to changes in the dimension of the good. Additionally, it is found that the relationship between emotional intensity and the level of anchoring is U-shaped, with anchoring declining as emotional intensity rises until a minimum is reached. Thus, preferences can be substantially less affected by anchoring effects if emotional intensity deviates from extreme values. Finally, it is found that the degree of sensitivity to scope is influenced by the level of emotional load involve in the valuation task.	en_US
dc.publisher	Elsevier BV	en_US
dc.relation.ispartof	Ecological Economics	en_US
dc.relation.isbasedon	10.1016/j.ecolecon.2007.11.005	en_US
dc.subject.classification	Agricultural Economics & Policy	en_US
dc.title	Do emotions matter? coherent preferences under anchoring and emotional effects	en_US
dc.type	Journal Article
utslib.citation.volume	4	en_US
utslib.citation.volume	66	en_US
utslib.for	1499 Other Economics	en_US
utslib.for	1402 Applied Economics	en_US
utslib.for	0502 Environmental Science and Management	en_US
utslib.citation.edition	1	en_US
pubs.embargo.period	Not known	en_US
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Business
utslib.copyright.status	closed_access
pubs.consider-herdc	false	en_US
pubs.edition	1	en_US
pubs.issue	4	en_US
pubs.volume	66	en_US

Abstract:

Emotions can affect individuals' preferences and economic behavior. In this paper we consider the relationship between emotions and anchoring effects in non-market valuation. The findings show that although anchoring effects are relevant, elicited preferences are coherent, in the sense that they are sensitive to changes in the dimension of the good. Additionally, it is found that the relationship between emotional intensity and the level of anchoring is U-shaped, with anchoring declining as emotional intensity rises until a minimum is reached. Thus, preferences can be substantially less affected by anchoring effects if emotional intensity deviates from extreme values. Finally, it is found that the degree of sensitivity to scope is influenced by the level of emotional load involve in the valuation task.

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http://hdl.handle.net/10453/28740