Understanding Risky Behavior: The Influence of Cognitive, Emotional and Hormonal Factors on Decision-Making under Risk

Petko Kusev, Harry Purser, Renata Heilman, Alex Cooke, Paul van Schaik, Victoria Baranova, Rose Martin, Peter Ayton

Research output: Contribution to journalArticle

19 Citations (Scopus)

Abstract

Financial risky decisions and evaluations pervade many human everyday activities. Scientific research in such decision-making typically explores the influence of socio-economic and cognitive factors on financial behavior. However, very little research has explored the holistic influence of contextual, emotional, and hormonal factors on preferences for risk in insurance and investment behaviors. Accordingly, the goal of this review article is to address the complexity of individual risky behavior and its underlying psychological factors, as well as to critically examine current regulations on financial behavior.
Original languageEnglish
Article number102
Number of pages10
JournalFrontiers in Psychology
Volume8
DOIs
Publication statusPublished - 1 Feb 2017
Externally publishedYes

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