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Efimov K, Ntoumanis I, Kuskova O, Kadieva D, Panidi K, Kosonogov V, Kazanina N, Shestakova A, Klucharev V, Jääskeläinen IP. Impact of Induced Moods, Sensation Seeking, and Emotional Contagion on Economic Decisions Under Risk. Front Psychol 2022; 12:796016. [PMID: 35069386 PMCID: PMC8766662 DOI: 10.3389/fpsyg.2021.796016] [Citation(s) in RCA: 1] [Impact Index Per Article: 0.5] [Reference Citation Analysis] [Abstract] [Key Words] [Track Full Text] [Download PDF] [Figures] [Journal Information] [Subscribe] [Scholar Register] [Received: 10/15/2021] [Accepted: 12/10/2021] [Indexed: 11/24/2022] Open
Abstract
In addition to probabilities of monetary gains and losses, personality traits, socio-economic factors, and specific contexts such as emotions and framing influence financial risk taking. Here, we investigated the effects of joyful, neutral, and sad mood states on participants' risk-taking behaviour in a simple task with safe and risky options. We also analysed the effect of framing on risk taking. In different trials, a safe option was framed in terms of either financial gains or losses. Moreover, we investigated the effects of emotional contagion and sensation-seeking personality traits on risk taking in this task. We did not observe a significant effect of induced moods on risk taking. Sad mood resulted in a slight non-significant trend of risk aversion compared to a neutral mood. Our results partially replicate previous findings regarding the presence of the framing effect. As a novel finding, we observed that participants with a low emotional contagion score demonstrated increased risk aversion during a sad mood and a similar trend at the edge of significance was present in high sensation seekers. Overall, our results highlight the importance of taking into account personality traits of experimental participants in financial risk-taking studies.
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Affiliation(s)
- Kirill Efimov
- International Laboratory of Social Neurobiology, Institute for Cognitive Neuroscience HSE University, Moscow, Russia
| | - Ioannis Ntoumanis
- International Laboratory of Social Neurobiology, Institute for Cognitive Neuroscience HSE University, Moscow, Russia
| | - Olga Kuskova
- International Laboratory of Social Neurobiology, Institute for Cognitive Neuroscience HSE University, Moscow, Russia
| | - Dzerassa Kadieva
- International Laboratory of Social Neurobiology, Institute for Cognitive Neuroscience HSE University, Moscow, Russia
| | - Ksenia Panidi
- International Laboratory of Social Neurobiology, Institute for Cognitive Neuroscience HSE University, Moscow, Russia
| | - Vladimir Kosonogov
- International Laboratory of Social Neurobiology, Institute for Cognitive Neuroscience HSE University, Moscow, Russia
| | - Nina Kazanina
- International Laboratory of Social Neurobiology, Institute for Cognitive Neuroscience HSE University, Moscow, Russia
- School of Psychological Science, University of Bristol, Bristol, United Kingdom
| | - Anna Shestakova
- International Laboratory of Social Neurobiology, Institute for Cognitive Neuroscience HSE University, Moscow, Russia
| | - Vasily Klucharev
- International Laboratory of Social Neurobiology, Institute for Cognitive Neuroscience HSE University, Moscow, Russia
| | - Iiro P. Jääskeläinen
- International Laboratory of Social Neurobiology, Institute for Cognitive Neuroscience HSE University, Moscow, Russia
- Brain and Mind Laboratory, Department of Neuroscience and Biomedical Engineering, Aalto University School of Science, Espoo, Finland
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