A multinational analysis of how emotions relate to economic decisions regarding time or risk.

Publisher: Springer Nature Publishing Country of Publication: England NLM ID: 101697750 Publication Model: Print-Electronic Cited Medium: Internet ISSN: 2397-3374 (Electronic) Linking ISSN: 23973374 NLM ISO Abbreviation: Nat Hum Behav Subsets: MEDLINE

Original Publication: [London] : Springer Nature Publishing, [2017]-

Decision Making* ; Emotions*; Humans ; Choice Behavior ; Cross-Cultural Comparison ; Delay Discounting ; Risk-Taking

Emotions have been theorized to be important drivers of economic choices, such as intertemporal or risky decisions. Our systematic review and meta-analysis of the previous literature (378 results and 50,972 participants) indicates that the empirical basis for these claims is mixed and the cross-cultural generalizability of these claims has yet to be systematically tested. We analysed a dataset with representative samples from 74 countries (n = 77,242), providing a multinational test of theoretical claims that individuals' ongoing emotional states predict their economic preferences regarding time or risk. Overall, more positive self-reported emotions generally predicted a willingness to wait for delayed rewards or to take favourable risks, in line with some existing theories. Contrary to the assumption of a universal relationship between emotions and decision-making, we show that these relationships vary substantially and systematically across countries. Emotions were stronger predictors of economic decisions in more economically developed and individualistic countries.
Competing Interests: Competing interests The authors declare no competing interests.
(© 2024. The Author(s), under exclusive licence to Springer Nature Limited.)

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