Neuroscience and the Economics of Decision Making

Abingdon; New York: Routledge (2012)
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Abstract

(1) Emotions influence decisions in various ways. In particular, they can induce new intrinsic desires. This mechanism is the topic of this paper. (2) After briefly discussing some rival approaches a new theory of such emotional decisions is presented. (3) The general framework into which this theory is integrated is an expectancy-valence or decision-theoretic model of decision, however with a strict distinction between intrinsic and other desires. (4) The specific part of the theory then explains emotional decisions by non-hedonic emotion-induced intrinsic desires that grow and wane with the respective emotion, e.g. when in rage the desire to destroy or hurt the ‘aggressor’. A general approach to the content of these desires is provided, namely that they take up the values inherent in specific satisfying emotions coupled with the present emotion. (5) Finally, some theoretical consequences and advantages of this theory are shown.

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