The standard economic model of decision making assumes a decision maker makes her
choices to maximize her utility or happiness. Her current emotionał state is not explicitly …

The standard economic model of decision making assumes a decision maker's current
emotional state has no impact on his or her decisions. Yet there is a large psychological …

Economic models of decision making are consequentialist in nature; they assume that
decision makers choose between alternative courses of action by assessing the desirability …

When Jeremy Bentham (1789) first proposed the construct of utility, emotions figured
prominently in his theory. Because Bentham viewed utility as the net sum of positive over …

Many economic behaviors cannot be explained by the economist's approach that people
behave according to reasoning and try to maximize some utility function. Emotions do not …

Understanding the interaction between reason and passion in economic be-havior has
aroused great interest over the ages, and it prompted Jevons (1871/1965), not known to be …

characterized demonstrations of the relationship between emotions and economic choices
famously showed that damage to particular neural areas can radically bias decision making …

Two systems in the brain that are involved in emotional and economic decision-making are
described. The first is an evolutionarily old emotion-based system that operates on rewards …

Positive and negative feelings were central to the development of economics, especially in
utility theory in classical economics. While neoclassical utility theory ignored feelings …

This paper describes two fundamental modes of thinking. The experiential mode, is intuitive,
automatic, natural, and based upon images to which positive and negative affective feelings …