The intertemporal choice behaviour: The role of emotions in a multi-agent decision problem

Authors

  • Angelarosa Longo
  • Massimo Squillante Università degli Studi del Sannio
  • Aldo G. S. Ventre Seconda Università degli Studi di Napoli
  • Viviana Ventre Università degli Studi del Sannio

DOI:

https://doi.org/10.1478/AAPP.932C2

Keywords:

Intertemporal Choice, Decision Neuroscience, Anomalies, Neuroeconomics, Hyperbolic Discount Model, Emotions in Intertemporal Choice, Multi-agent Decision Problem, False Consensus Effect, Information Processing

Abstract

Decision Neuroscience has shown positive and negative side of emotions in intertemporal choices. Psychological evidences, indeed, point out anomalies (impulsivity modifies the discount function of each individual) and the false consensus effect which increases the degree of consensus in a multi-agent decision problem. An experiment (Engelmann and Strobel 2004) demonstrates that the relevance of the false consensus effect depends on the difficulty of the information retrieval, so the underlying mechanism is an information processing deficiency rather than egocentricity. We demonstrate that emotions can not cause anomalies in a cooperative strategic interaction because information is explicit.

Author Biographies

  • Angelarosa Longo
    Via S. Lucia 41, 82026 Morcone (BN)
  • Massimo Squillante, Università degli Studi del Sannio
    Dipartimento di Diritto, Economia, Management e Metodi Quantitativi
  • Aldo G. S. Ventre, Seconda Università degli Studi di Napoli
    Dipartimento di Architettura e Disegno Industriale "Luigi Vanvitelli"
  • Viviana Ventre, Università degli Studi del Sannio
    Dipartimento di Diritto, Economia, Management e Metodi Quantitativi

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Published

2015-12-15

Issue

Vol. 93 No. 2 (2015)

Section

Lectures and Colloquia

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