Emocije i efekat refleksije: afektivno-kognitivno proširenje teorije izgleda
EMOTIONS AND THE REFLECTION EFFECT: AN AFFECTIVE-COGNITIVE EXTENSION OF PROSPECT THEORY

Summary/Abstract: Rational choice theory assumes that decision makers hold stable preferences and evaluate probabilities objectively, whereas behavioral approaches to decision- making show that the axioms of rationality are systematically violated in practice. Kahneman and Tversky’s prospect theory explains preference changes through the framing of outcomes within the reference domains of gains and losses, yet it does not explicitly address how decision makers’ emotional states influence preference reversals, i.e., the reflection effect. This paper examines how incidental emotions (anger, sadness, fear, happiness) moderate the reflection effect in the ”Asian Disease” experimental paradigm. The experiment was conducted with 210 participants, using emotion induction through a combination of film clips and guided autobiographical recall. The findings confirm the basic prospect-theory pattern across all emotional conditions, but also show that emotions significantly alter the intensity of the reflection effect: happiness stabilizes preferences and weakens reflection, whereas sadness and anger dramatically increase polarization between gains and losses. The results are interpreted through the frameworks of emotions as information and emotions as motivation.

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