Deborah A Kermer | PubMed Health

PubMed2006

Loss aversion is an affective forecasting error.

Loss aversion occurs because people expect losses to have greater hedonic impact than gains of equal magnitude. In two studies, people predicted that losses in a gambling task would have greater hedonic impact than would gains of equal magnitude, but when people actually gambled, losses did not have as much of an emotional impact as they predicted. People overestimated the hedonic impact of losses because they underestimated their tendency to rationalize losses and overestimated their tendency to dwell on losses. The asymmetrical impact of losses and gains was thus more a property of affective forecasts than a property of affective experience.

Adult↗

PubMed2005

The pleasures of uncertainty: prolonging positive moods in ways people do not anticipate.

The authors hypothesized that uncertainty following a positive event prolongs the pleasure it causes and that people are generally unaware of this effect of uncertainty. In 3 experimental settings, people experienced a positive event (e.g., received an unexpected gift of a dollar coin attached to an index card) under conditions of certainty or uncertainty (e.g., it was easy or difficult to make sense of the text on the card). As predicted, people's positive moods lasted longer in the uncertain conditions. The results were consistent with a pleasure paradox, whereby the cognitive processes used to make sense of positive events reduce the pleasure people obtain from them. Forecasters seemed unaware of this paradox; they overwhelmingly preferred to be in the certain conditions and tended to predict that they would be in better moods in these conditions.

Adolescent↗