Decision-makers are sometimes depicted as impulsive and overly influenced by hot,affective factors. The present research suggests that decision-makers may be too cold and overly focus on rationalistic attributes, such as economic values, quantitative specifications,and functions. In support of...

This research examined how one affectively reacts to others’ guesses at a value one cares about, such as one’s income. Conventional wisdom suggests that people will feel happier upon receiving more favorable guesses (e.g., higher income) than less favorable guesses. We found the opposite...

A medium - for example, points or money - is a token people receive as the immediate reward of their effort.It has no value in and of itself, but it can be traded for a desired outcome. Experiments demonstrate that, when people are faced with options entailing different outcomes, the presence of...

Most behavioral decision studies are about internal inconsistencies of decisions - that decisions (choices or judgments) made in one condition are different from decisions made in an apparently different but normatively equivalent condition. The present article reviews behavioral decision...

This research identifies a new source of failure to make accurate affective predictions or to make experientially optimal choices. When people make predictions or choices, they are often in the joint evaluation (JE) mode; when people actually experience an event, they are often in the single...