The goal of this thesis is to examine the role of emotion as it pertains to the utility maximization problem and make an argument for incorporating emotion into economic models of decision-making. It further aims to demonstrate by means of a social experiment how specific emotions influence intertemporal judgment. The results from the experiment reveal that in line with previously documented findings, incidental sadness increases the level of economic impatience. However contrary to theoretical predictions, the prosocial emotion of compassion cannot be used as a tool to reduce economic impatience. In fact there is evidence to indicate that compassion, in some situations, is not reliably different from sadness in terms of its influence on economic impatience and can therefore be detrimental to economic wellbeing.
| Identifer | oai:union.ndltd.org:nusl.cz/oai:invenio.nusl.cz:431250 |
| Date | January 2017 |
| Creators | Abraham, Diya Elizabeth |
| Source Sets | Czech ETDs |
| Language | English |
| Detected Language | English |
| Type | info:eu-repo/semantics/masterThesis |
| Rights | info:eu-repo/semantics/restrictedAccess |
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