Concept information
Preferred term
emotions in economic behavior
Definition
- Emotions can influence economically relevant decisions in at least two ways. First, emotions expected to occur as the result of a particular course of action (e.g., happiness that might result from taking a vacation or regret that might result from not taking it) can be components of that action's desirability or “utility.” Second, emotions experienced at the moment of choice may influence expected utility or override deliberate consideration of expected utility. [Source: Encyclopedia of Philosophy and the Social Sciences; Emotions in Economic Behavior]
Broader concept
Belongs to group
URI
https://concepts.sagepub.com/social-science/concept/emotions_in_economic_behavior
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