Do emotions matter? coherent preferences under anchoring and emotional effects

Publisher:
Elsevier BV
Publication Type:
Journal Article
Citation:
Ecological Economics, 2008, 1, 66 (4), pp. 700 - 711
Issue Date:
2008-01
Full metadata record
Files in This Item:
Filename Description Size
Thumbnail2012001580OK.pdf601.93 kB
Adobe PDF
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.
Please use this identifier to cite or link to this item: