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Positive and Negative Affect in Loss Aversion: Additive or Subtractive Logic?
Tang, Hui1,2; Liang, Zhe2; Zhou, Kun4; Huang, Gui-Hai5; Rao, Li-Lin2; Li, Shu3
2016-10-01
Source PublicationJOURNAL OF BEHAVIORAL DECISION MAKING
ISSN0894-3257
SubtypeArticle
Volume29Issue:4Pages:381-391
Abstract

Previous studies explain loss aversion as the result of a situation in which the expected negative emotions derived from a potential loss exceed the expected positive emotions derived from a potential gain (subtractive logic). We questioned this view and proposed additive logic, in which a linear combination between negative and positive emotions can be used as summed anticipatory affect intensity (SAAI) to explain loss aversion. By disproving two implicit hypotheses of subtractive logic, Study 1 showed that the additive logic of expected positive and negative affect was more effective than the subtractive logic in predicting loss aversion. Study 2 used real monetary gains and losses to verify the conclusion in Study 1. Using state-trait theory to comprehensively consider the state and trait aspects of affect intensity, we further deduced that the immediate expected affect intensity might originate from the difference of an individual trait in affect intensity. Study 3 proved this hypothesis and showed that SAAI plays an intermediary role between affect intensity and loss aversion. Furthermore, Study 4 used real gamblers in casinos in Macau as its sample and obtained the same conclusion regarding loss aversion in real life as was found in the laboratory. Finally, we explained the effect of SAAI on loss aversion and indicated the contribution and significance of this study. Copyright (c) 2015 John Wiley & Sons, Ltd.

Keywordloss aversion summed anticipatory affect intensity affect intensity positive affect negative affect
DOI10.1002/bdm.1884
Indexed BySSCI ; SSCI
Language英语
Funding OrganizationNational Natural Science Foundation of China(31200793 ; Macao Polytechnic Institute titled
WOS Research AreaPsychology
WOS SubjectPsychology, Applied
WOS IDWOS:000383623700004
WOS HeadingsSocial Sciences
WOS KeywordDECISION-MAKING ; ANTICIPATED EMOTIONS ; AFFECT INTENSITY ; PROSPECT-THEORY ; LOOM LARGER ; GAINS ; RISK ; CHOICE ; FOCUS ; PERSONALITY
Citation statistics
Cited Times:2[WOS]   [WOS Record]     [Related Records in WOS]
Document Type期刊论文
Identifierhttp://ir.psych.ac.cn/handle/311026/20528
Collection社会与工程心理学研究室
Affiliation1.Tianjin Univ Technol & Educ, Dept Psychol, Tianjin, Peoples R China
2.Chinese Acad Sci, Inst Psychol, 4A Datun Rd, Beijing 100101, Peoples R China
3.Chinese Acad Sci, Inst Psychol, Degree Comm, Beijing, Peoples R China
4.Civil Aviat Univ China, Coll Safety Sci & Engn, Tianjin, Peoples R China
5.Macau Polytech Inst, Gaming Teaching & Res Ctr, Macau, Peoples R China
Recommended Citation
GB/T 7714
Tang, Hui,Liang, Zhe,Zhou, Kun,et al. Positive and Negative Affect in Loss Aversion: Additive or Subtractive Logic?[J]. JOURNAL OF BEHAVIORAL DECISION MAKING,2016,29(4):381-391.
APA Tang, Hui,Liang, Zhe,Zhou, Kun,Huang, Gui-Hai,Rao, Li-Lin,&Li, Shu.(2016).Positive and Negative Affect in Loss Aversion: Additive or Subtractive Logic?.JOURNAL OF BEHAVIORAL DECISION MAKING,29(4),381-391.
MLA Tang, Hui,et al."Positive and Negative Affect in Loss Aversion: Additive or Subtractive Logic?".JOURNAL OF BEHAVIORAL DECISION MAKING 29.4(2016):381-391.
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