Emotion Expression in Economics

Kristian Lopez Vargas

Full List of Authors: Brit Grosskopf, Kristian Lopez

Session: C5: Human Behavior and the Cognitive Mind (GRID 2011)

Time & Location: 14:15 PM-15:45 PM, Pyon Su

The study of the influence of emotions on decision making in bargaining environments is particularly relevant if we notice that real life market encounters often involve interactions beyond what is contracted on. This research is based on a sequence of lab experiments based on bargaining games where the presence of emotional states has been previously reported. We modify the setting to incorporate expression possibilities. The type of expression we study is a feedback verbal response, posterior to all resource allocation and (theoretically) with no material-strategic implication. We establish that the arousal caused by the money taken from ones account does trigger a strong tendency to express (i.e. people is willing to pay to say something.) We also study the trade-off in value between verbal responses and monetary punishment. Finally we investigate social wellbeing implications of expression providing traditional measures of social welfare as well as those coming from self reported well-being. Preliminary results are presented.

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