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

doi:10.3389/fpsyg.2017.00102

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 journal › Article › peer-review

79 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 language	English
Article number	102
Number of pages	10
Journal	Frontiers in Psychology
Volume	8
DOIs	https://doi.org/10.3389/fpsyg.2017.00102
Publication status	Published - 1 Feb 2017
Externally published	Yes

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 3 Good Health and Well-being
SDG 5 Gender Equality
SDG 8 Decent Work and Economic Growth

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10.3389/fpsyg.2017.00102Licence: CC BY

http://eprints.hud.ac.uk/id/eprint/32227Licence: CC BY

Cite this

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

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.",

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AU - Kusev, Petko

AU - Purser, Harry

AU - Heilman, Renata

AU - Cooke, Alex

AU - van Schaik, Paul

AU - Baranova, Victoria

AU - Martin, Rose

AU - Ayton, Peter

PY - 2017/2/1

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N2 - 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.

AB - 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.

KW - Decision-making

KW - Risky behavior

KW - Risky content

KW - Risky context

KW - Cognitive factors

KW - Emotional and hormonal factors

UR - https://www.frontiersin.org/journals/psychology

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JO - Frontiers in Psychology

JF - Frontiers in Psychology

M1 - 102

ER -

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

Abstract

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