Models of affective decision making: how do feelings predict choice?
Intuitively, how you feel about potential outcomes will determine your decisions. Indeed, an implicit assumption in one of the most influential theories in psychology, prospect theory, is that feelings govern choice. Surprisingly, however, very little is known about the rules by which feelings are t...
| Main Authors: | , , , , |
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| Format: | Journal article |
| Language: | English |
| Published: |
Association for Psychological Science
2016
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| _version_ | 1797102542245593088 |
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| author | Charpentier, C De Neve, J Li, X Roiser, J Sharot, T |
| author_facet | Charpentier, C De Neve, J Li, X Roiser, J Sharot, T |
| author_sort | Charpentier, C |
| collection | OXFORD |
| description | Intuitively, how you feel about potential outcomes will determine your decisions. Indeed, an implicit assumption in one of the most influential theories in psychology, prospect theory, is that feelings govern choice. Surprisingly, however, very little is known about the rules by which feelings are transformed into decisions. Here, we specified a computational model that used feelings to predict choices. We found that this model predicted choice better than existing value-based models, showing a unique contribution of feelings to decisions, over and above value. Similar to the value function in prospect theory, our feeling function showed diminished sensitivity to outcomes as value increased. However, loss aversion in choice was explained by an asymmetry in how feelings about losses and gains were weighted when making a decision, not by an asymmetry in the feelings themselves. The results provide new insights into how feelings are utilized to reach a decision. |
| first_indexed | 2024-03-07T06:07:22Z |
| format | Journal article |
| id | oxford-uuid:ee527156-f97f-4f51-a416-4258b799e254 |
| institution | University of Oxford |
| language | English |
| last_indexed | 2024-03-07T06:07:22Z |
| publishDate | 2016 |
| publisher | Association for Psychological Science |
| record_format | dspace |
| spelling | oxford-uuid:ee527156-f97f-4f51-a416-4258b799e2542022-03-27T11:31:41ZModels of affective decision making: how do feelings predict choice?Journal articlehttp://purl.org/coar/resource_type/c_dcae04bcuuid:ee527156-f97f-4f51-a416-4258b799e254EnglishSymplectic Elements at OxfordAssociation for Psychological Science2016Charpentier, CDe Neve, JLi, XRoiser, JSharot, TIntuitively, how you feel about potential outcomes will determine your decisions. Indeed, an implicit assumption in one of the most influential theories in psychology, prospect theory, is that feelings govern choice. Surprisingly, however, very little is known about the rules by which feelings are transformed into decisions. Here, we specified a computational model that used feelings to predict choices. We found that this model predicted choice better than existing value-based models, showing a unique contribution of feelings to decisions, over and above value. Similar to the value function in prospect theory, our feeling function showed diminished sensitivity to outcomes as value increased. However, loss aversion in choice was explained by an asymmetry in how feelings about losses and gains were weighted when making a decision, not by an asymmetry in the feelings themselves. The results provide new insights into how feelings are utilized to reach a decision. |
| spellingShingle | Charpentier, C De Neve, J Li, X Roiser, J Sharot, T Models of affective decision making: how do feelings predict choice? |
| title | Models of affective decision making: how do feelings predict choice? |
| title_full | Models of affective decision making: how do feelings predict choice? |
| title_fullStr | Models of affective decision making: how do feelings predict choice? |
| title_full_unstemmed | Models of affective decision making: how do feelings predict choice? |
| title_short | Models of affective decision making: how do feelings predict choice? |
| title_sort | models of affective decision making how do feelings predict choice |
| work_keys_str_mv | AT charpentierc modelsofaffectivedecisionmakinghowdofeelingspredictchoice AT denevej modelsofaffectivedecisionmakinghowdofeelingspredictchoice AT lix modelsofaffectivedecisionmakinghowdofeelingspredictchoice AT roiserj modelsofaffectivedecisionmakinghowdofeelingspredictchoice AT sharott modelsofaffectivedecisionmakinghowdofeelingspredictchoice |