1. Immediate Versus Anticipated Emotions in Social and Economic Choice David Dunning University of Michigan With thanks to: Thomas Schlösser Detlef Fetchenhauer

2. Choice Risky Stock A Rises Drops Happiness Disappointment

3. Choice Risky Stock A Rises Drops Some Happiness Regret Safe Stock B Rises

4. Choice Risky Stock A Rises Drops Some Happiness Regret Safe Stock B Rises Anticipated Emotions

5. Choice Risky Stock A Rises Drops Some Happiness Regret Safe Stock B Rises Immediate Emotions

6. Do Immediate Emotions Matter? How Does Their Impact Compare?

7. A Flip of a Coin (Schlösser et al., JBDM, 2013) Choice Flip Coin Win Lose Play Safe WinLose

8. Self-Assessment Manikin (SAM)

9. Immediate Emotion Clusters (Keep) (Schlösser et al., JBDM, 2013) 66% v. 24%

10. Immediate Emotion Clusters (Risk) (Schlösser et al., JBDM, 2013) 17% v. 57%

11. Flipping a Coin: Variance Explained

12. A Laboratory Game Player 1 Player 2

13. A Laboratory Game Player 1 Player 2 Does Not Trust Player 1 Receives $5 Player 2 Receives $0

14. A Laboratory Game Player 1 Player 2 Does Not TrustTrusts Player 1 Receives $5 Player 2 Receives $0 Player 1 Receives $10 Player 2 Receives $10 Reciprocates Player 1 Receives $0 Player 2 Receives $20 Violates

15. Social v. Nonsocial Risks (Schlösser et al., under review, 2015) Trust Game Coin Flip Extended Coin Flip – add payoffs to another person as well as the self

16. The Betrayal Story p <.005 p <.002 p <.03

17. The Agitation Story

18. When Do People Risk?

19. Taking a Risk: Variance Explained

20. Conclusions and Thoughts Emotions at immediate level matter People may regulate based on actions more than on potential outcomes Older adults regulate more in terms of emotional satisfaction: Does that mean in terms of outcomes or actions? The case of trust