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Current emotion research in economics

(2017) EMOTION REVIEW. 9(3). p.271-278
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Abstract
Positive and negative feelings were central to the development of economics, especially in utility theory in classical economics. While neoclassical utility theory ignored feelings, behavioral economics more recently reintroduced feelings in utility theory. Beyond feelings, economic theorists use full-fledged specific emotions to explain behavior that otherwise could not be understood or they study emotions out of interest for the emotion itself. While some analyses display a strong overlap between psychological thinking and economic modelling, in most cases there is still a large gap between economic and psychological approaches to emotion research. Ways how to reduce this gap are discussed.
Keywords
UTILITY, DISAPPOINTMENT, UNEMPLOYMENT, CONSUMPTION, PREFERENCES, UNCERTAINTY, HYPOTHESIS, HAPPINESS, DECISION, FAIRNESS, anxiety, classical, craving, disappointment, disgust, elation, ex ante, emotions, ex post emotions, neoclassical and behavioral economics, regret, rejoicing, utility theory

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Citation

Please use this url to cite or link to this publication:

Chicago
Waelde, Klaus, and Agnes Moors. 2017. “Current Emotion Research in Economics.” Emotion Review 9 (3): 271–278.
APA
Waelde, K., & Moors, A. (2017). Current emotion research in economics. EMOTION REVIEW, 9(3), 271–278.
Vancouver
1.
Waelde K, Moors A. Current emotion research in economics. EMOTION REVIEW. Thousand oaks: Sage Publications Inc; 2017;9(3):271–8.
MLA
Waelde, Klaus, and Agnes Moors. “Current Emotion Research in Economics.” EMOTION REVIEW 9.3 (2017): 271–278. Print.
@article{8542083,
  abstract     = {Positive and negative feelings were central to the development of economics, especially in utility theory in classical economics. While neoclassical utility theory ignored feelings, behavioral economics more recently reintroduced feelings in utility theory. Beyond feelings, economic theorists use full-fledged specific emotions to explain behavior that otherwise could not be understood or they study emotions out of interest for the emotion itself. While some analyses display a strong overlap between psychological thinking and economic modelling, in most cases there is still a large gap between economic and psychological approaches to emotion research. Ways how to reduce this gap are discussed.},
  author       = {Waelde, Klaus and Moors, Agnes},
  issn         = {1754-0739},
  journal      = {EMOTION REVIEW},
  keywords     = {UTILITY,DISAPPOINTMENT,UNEMPLOYMENT,CONSUMPTION,PREFERENCES,UNCERTAINTY,HYPOTHESIS,HAPPINESS,DECISION,FAIRNESS,anxiety,classical,craving,disappointment,disgust,elation,ex ante,emotions,ex post emotions,neoclassical and behavioral economics,regret,rejoicing,utility theory},
  language     = {eng},
  number       = {3},
  pages        = {271--278},
  publisher    = {Sage Publications Inc},
  title        = {Current emotion research in economics},
  url          = {http://dx.doi.org/10.1177/1754073916665470},
  volume       = {9},
  year         = {2017},
}

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