Risky choices and emotion-based learning.
The paper offers a comprehensive analysis of causes and consequences of the accumulation
of emotional experience, measured via skin conductance response, when taking risky
choices. A large experimental data set was obtained from a psycho-physiological task
conducted with 645 bank customers and financial professionals. With respect to causes,
we found that the individual emotional response to gains/losses is trend-dependent and
influenced by habituation, as well as by anchoring/framing due to the external layout of
risky alternatives. With respect to consequences, we found evidence that the somatic
reinforcement experience is able to guide asset picking, but within a long-term strategy.
Consequently, selection behaviors were observed in a portfolio mean–variance framework,
revealing that somatic markers lead individuals to pursue a long-term ‘psycho-economic’
efficiency that integrates factual information (monetary outcomes) with the implicit
subjective experience.
Risky choices and emotion-based learning.The paper offers a comprehensive analysis of causes and consequences of the accumulationof emotional experience, measured via skin conductance response, when taking riskychoices. A large experimental data set was obtained from a psycho-physiological taskconducted with 645 bank customers and financial professionals. With respect to causes,we found that the individual emotional response to gains/losses is trend-dependent andinfluenced by habituation, as well as by anchoring/framing due to the external layout ofrisky alternatives. With respect to consequences, we found evidence that the somaticreinforcement experience is able to guide asset picking, but within a long-term strategy.Consequently, selection behaviors were observed in a portfolio mean–variance framework,revealing that somatic markers lead individuals to pursue a long-term ‘psycho-economic’efficiency that integrates factual information (monetary outcomes) with the implicitsubjective experience.
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