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Full-Text Articles in Economic Theory
Emotions And Behavior Regulation In Decision Dilemmas, Joaquín Gómez-Miñambres, Eric Schniter
Emotions And Behavior Regulation In Decision Dilemmas, Joaquín Gómez-Miñambres, Eric Schniter
ESI Publications
We introduce a dynamic model of emotional behavior regulation that can generalize to a wide range of decision dilemmas. Dilemmas are characterized by availability of mutually exclusive goals that a decision maker is dually motivated to pursue. In our model, previous goal pursuant decisions produce negative emotions that regulate an individual’s propensity to further pursue those goals at future times. This emotional regulation of behavior helps explain the non-stationarity and switching observed between so-called “preferences” revealed in repeated decision dilemmas (e.g., by choosing A over B at time 1, then choosing B over A at time 2). We also explain …
Emotional Calibration Of Self-Control, Joaquín Gómez-Miñambres, Eric Schniter
Emotional Calibration Of Self-Control, Joaquín Gómez-Miñambres, Eric Schniter
ESI Publications
We study a dynamic model of self-control where previous decisions have influence on subsequent decision making. In our model effort and guilt are negative emotions produced by previous decisions to either resist or yield to temptation, respectively. These emotions calibrate an individual's self-control, in turn affecting future decisions. Our model explains non-stationary consumption paths characterized by compensatory indulgence and restraint, why under some circumstances the amplitude of this switching pattern increases with foresight, and how unavoidable options that might show up on one's menu influence choices, consequent emotions, consumption paths, and preferences for commitment. We discuss the implications of self-control …
Conflicted Emotions Following Trust-Based Interaction, Eric Schniter, Roman M. Sheremeta, Timothy W. Shields
Conflicted Emotions Following Trust-Based Interaction, Eric Schniter, Roman M. Sheremeta, Timothy W. Shields
ESI Publications
We observed reports of conflicted (concurrent positive and negative) emotions activated after interactions in the Trust game. Our analyses reveal that activation of 20 emotional states following trust-based interaction is better explained by predictions derived from a multi-dimensional Recalibrational perspective than by predictions derived from two-dimensional Valence and Arousal perspectives. The Recalibrational perspective proposes that emotions are activated according to their functional features – for example, emotions help people achieve short or long-sighted goals by up or down-regulating behavioral propensities, whereas Valence and Arousal perspectives consider simpler hedonic dimensions lacking functional specificity. The Recalibrational perspective is also distinguished from the …
Predictable And Predictive Emotions: Explaining Cheap Signals And Trust Re-Extension, Eric Schniter, Roman M. Sheremeta
Predictable And Predictive Emotions: Explaining Cheap Signals And Trust Re-Extension, Eric Schniter, Roman M. Sheremeta
ESI Publications
Despite normative predictions from economics and biology, unrelated strangers will often develop the trust necessary to reap gains from one-shot economic exchange opportunities. This appears to be especially true when declared intentions and emotions can be cheaply communicated. Perhaps even more puzzling to economists and biologists is the observation that anonymous and unrelated individuals, known to have breached trust, often make effective use of cheap signals, such as promises and apologies, to encourage trust re-extension. We used a pair of trust games with one-way communication and an emotion survey to investigate the role of emotions in regulating the propensity to …