Willingness to take risk is an important characteristic of entrepreneurship and a crucial factor for economic growth. Data show that compared to their US counterparts, people in Europe, and even more so in Eastern Europe, are less willing to undertake the risk of building their own business. The...

We present an experiment designed to test whether experienced regret and rejoicing evoked in a risk choice have an impact on subsequent intertemporal choice. We found that regret and rejoicing experienced prior to an intertemporal choice influenced considerably the way people relate to future:...