title: Models of Affective Decision Making: How Do Feelings Predict Choice?
abstract: Intuitively, how you feel about potential outcomes will determine your decisions. Indeed, an implicit assumption in one of the most influential theories in psychology, prospect theory, is that feelings govern choice. Surprisingly, however, very little is known about the rules by which feelings are transformed into decisions. Here, we specified a computational model that used feelings to predict choices. We found that this model predicted choice better than existing value-based models, showing a unique contribution of feelings to decisions, over and above value. Similar to the value function in prospect theory, our feeling function showed diminished sensitivity to outcomes as value increased. However, loss aversion in choice was explained by an asymmetry in how feelings about losses and gains were weighted when making a decision, not by an asymmetry in the feelings themselves. The results provide new insights into how feelings are utilized to reach a decision.
authors.affiliation: Institute of Cognitive Neuroscience, University College London Affective Brain Lab, Department of Experimental Psychology, University College London caroline.charpentier.11@ucl.ac.uk.
authors.forename: Caroline J
authors.initials: CJ
authors.lastname: Charpentier
authors.affiliation: Saïd Business School, University of Oxford.
authors.forename: Jan-Emmanuel
authors.initials: JE
authors.lastname: De Neve
authors.affiliation: Affective Brain Lab, Department of Experimental Psychology, University College London.
authors.forename: Xinyi
authors.initials: X
authors.lastname: Li
authors.affiliation: Institute of Cognitive Neuroscience, University College London.
authors.forename: Jonathan P
authors.initials: JP
authors.lastname: Roiser
authors.affiliation: Affective Brain Lab, Department of Experimental Psychology, University College London.
authors.forename: Tali
authors.initials: T
authors.lastname: Sharot
mesh_terms: D000328:Adult; D003657:Decision Making / Q000502:physiology*; D004644:Emotions / Q000502:physiology*; D005260:Female; D006801:Humans; D008297:Male; D008960:Models, Psychological; D055815:Young Adult
keywords: decision making; feelings; prospect theory; subjective well-being; utility; value