Dennis Küster Physical exercise and a risky choice: Can we dissociate the emotional state from the nature of the prize?

What would you prefer ? One million Euro for sure? or A 90% chance to win 2 million Euro?

3ADSR-DK weight probability We (rarely) calculate expectancy values Rottenstreich and Hsee (2001) „Rational choice“: E.g.,.99 probability for €100 should be worth €99. „Affect-Rich“

4ADSR-DK Stronger effects for “affect rich” materials Rottenstreich and Hsee (2001)  Experiment 1: Kissing a celebrety vs. money  Experiment 2: Vacation coupons vs. tuition coupons  Experiment 3: (imagined) electric shock vs. (imagined) $20 penalty Constant monetary value and “affect rich” vs. “affect poor” decisions

5ADSR-DK Kisses, cash, and coupons Rottenstreich and Hsee (2001)

6ADSR-DK What could be the underlying process ? Rottenstreich and Hsee (2001) Mental Imagery Emotion Weighting function Stimulus Material

7ADSR-DK Hsee and Rottenstreich (2004) Rottenstreich and Hsee (2001) Constant stimulus material Weighting function Calculation priming Feeling priming

8ADSR-DK Valuation by calculation vs. feeling Hsee and Rottenstreich, 2004

9ADSR-DK Valuation by calculation vs. feeling Hsee and Rottenstreich, 2004 If an object travels at five feet per minute, then by your calculations how many feet will it travel in 360 seconds? If a consumer bought 30 books for $540, then, by your calculations, on average, how much did the consumer pay for each book? When you hear the name “George W. Bush,” what do you feel? Please use one word to describe your predominant feeling. When you hear the word „baby,“ what do you feel? Please use one word to describe your predominant feeling.

10ADSR-DK Dissociating emotional state and decision  Participants can be biased toward calculation.  But how is emotional state related to decision making?  Can we further dissociate the emotional state from the nature of the prize?  One factor modulating the relationship between emotional content and the weighting function may be the degree of attention given to the emotional content.

11ADSR-DK Proposed study design Excitation transfer Decision about constant & relatively „affect poor“ material High arousal Low arousal Excitation transfer

12ADSR-DK EM1 Decision about prize Instructions Filler task EM2 EM1 Decision about prize Instructions Filler task EM2

13ADSR-DK The filler task Which brand would you prefer? Which brand do you think is more expensive?

14ADSR-DK Decision about the prize “Imagine you now had a 1% chance to win 500 € in a lottery. How much would you be willing to pay for a ticket in the lottery?”

15ADSR-DK Aims and improvements Hsee and Rottenstreich, 2004  Physiological measurement of arousal: EDA, HR  Dissociation of affective properties of the decision (or previous decisions) and emotional state  Are previously documented effects indeed “affective”?  Can we go beyond priming “valuation by calculation”?  Is the magnitude of effects related to physiological activation?

16ADSR-DK Questions / Discussion ?  Would there be a better decision/prize?  Might the filler task be priming a bias to one kind of “valuation”?  Could the placement and kind of emotion measure be improved?

17ADSR-DK EM1 Decision about prize Instructions Filler task EM2 „How do you feel right now?“ (1=„very bad“; 9= „very good“) ?

18ADSR-DK Questions / Discussion ?  Would there be a better decision/prize?  Might the filler task be priming a bias to one kind of “valuation”?  Could the placement and kind of emotion measure be improved?