“Will my flight be cancelled?” “Will I win the eBay auction?” These consumption and product acquisition situations would trigger the experience of . . . suspense. Suspense is defined as the overall anticipatory arousal associated with the hope and/or fear felt by a consumer assessing the likelihood of occurrence of an important and imminent consumption or acquisition event. If one views a potential outcome as causing pleasure (an approach appraisal), hope will be felt, while if one views a potential outcome as causing pain (an avoidance appraisal), fear will be felt. Other variables expected to indirectly impact suspense are frequency of probability change, degree of probability change and anticipation time. The conceptual model in this dissertation also proposes that people have an attitude toward the anticipation period and identifies four resolution emotions, satisfaction, disappointment, relief, and anguish, which may occur once the outcome is known. Further, attitude toward anticipation period and the resolution emotions are expected to affect attitude toward overall experience. Three studies were conducted. The objective of Studies 1 and 2 was to develop scales yielding reliable scores of hope, fear, and suspense. Fifty words related to hope, fear, and suspense were generated. In Study 1, 553 participants rated the words on the evaluative and activity dimensions using 18 semantic differential scale items. O-technique factor analysis was used to analyze the data in Study 1. In Study 2, 354 participants read one of three suspenseful stories, then indicated their hope, fear, and suspense. Exploratory and confirmatory factor analyses were used in Study 2. Study 3 consisted of an experiment in which 241 participants read a suspenseful house-buying scenario, then indicated their hope, fear, and suspense. Structural equation modeling was used to analyze the data in Study 3. Results supported the conceptualization of suspense: both hope and fear had a positive effect on suspense. Additionally, approach appraisal had a positive effect on hope, and avoidance appraisal had a positive effect on fear. The moderating effect of frequency of probability change was not supported. However, frequency of probability change did have a positive effect on both hope and fear.

Escalation of commitment refers to the tendency of decision makers to continue with failing courses of action (Staw, 1981). An abundance of research has shown that decision makers persistently escalate commitment to less favorable alternatives when making a series of decisions related to a single course of action. This decision making fallacy occurs across a wide range of personal and professional settings, and has significant implications for management and policy. There has been a wealth of research suggesting various explanations for why escalating commitment occurs across a wide range of situations; however, there have been relatively few studies investigating factors that may reduce this type of irrational decision making. Emotional intelligence is the ability to recognize and understand emotional information in oneself and others and use that information to guide one's thinking and behavior (Salovey & Mayer, 1990). This study investigated the previously unexplored relationship between emotional intelligence and escalation of commitment decisions. It also examined whether anticipatory emotions and risk perceptions mediate the relationship between emotional intelligence and escalation of commitment. It was hypothesized that individuals who have higher emotional intelligence will be less likely to commit additional funds to unfavorable courses of action, and that this relationship is mediated by anticipatory emotions and risk perceptions. These hypotheses were tested using a scenario based experiment with 110 undergraduate students at a large Midwestern university. Escalation of commitment was measured using Staw's (1976) "Adams & Smith Financial Decision Case" (p.30). Emotional intelligence was measured using the 33-item emotional intelligence scale (Schutte, Malouff, Hall, Haggerty, Cooper, Golden, & Dornheim, 1998) The relationship between emotional intelligence and escalation of commitment was tested using regression analysis, and the mediating relationships (anticipatory emotions, risk perceptions) were tested using Baron and Kenny's (1986) mediation procedure. Findings from the study reveal several practical and theoretical contributions. Results suggest that emotional intelligence is not significantly related to escalation of commitment. However, anticipatory emotions were shown to play an important role in one's tendency to escalate commitments. Those who anticipated more positive emotions about finishing the course of action were significantly more likely to escalate commitments toward its completion. In addition, managerial experience was significant in reducing one's tendency to escalate commitments. Results, strengths, weaknesses and future research directions are discussed in relation to the current study.