IMPORTANCE OF EMOTIONS IN DECISION MAKING IN ECONOMY AND BUSINESS

Authors

  • Savo Stupar Ekonomski fakultet, Univerzitet u Sarajevu Author
  • Elvir Šahić Ekonomski fakultet, Univerzitet u Sarajevu Author

DOI:

https://doi.org/10.7251/ZREFIS1307343S

Keywords:

emotions, amygdala, cortex, managerial decision making, emotional intelligence

Abstract

Recently, more attention has been paid to the inclusion of emotional knowledge in the analysis of the process of thinking in making business decisions. The aim of this paper is to try, with the help of available literature from different scientific disciplines that deal with various aspects of the impact of emotions on decision-making, to find new quality and new knowledge in the above areas, which will help stakeholders to efficiently and effectively make decisions. In this paper, we used the comparative method, so we compared the similarities and differences and the advantages and disadvantages of earlier models of decision making, which did not include the emotional components of the new model that includes these components.

References

Bargh, John A. 1984. Automatic and conscious processing of social information, vol. 3, 1–43, Hillsdale, NJ, Erlbaum.

Bechara, Antonie; Hanna Damasio, Daniel Tranel and Antonio R. Damasio. 1997. Deciding advantageously before knowing the advantageous strategy. Science no. 275, 1293–1295.

Buck, Ross. 1988. Human motivation and emotion, Wiley & Sons. In Čaklavić, L., Modeli u odlučivanju. Accessed January 27, 2007. http://decision.math.hr/nastava/predavanja/Modeli%20u%20odlucivanju.pdf.

Čaklović, Lavoslav. 2007 Modeli u odlučivanju. Pristupljeno 27. 1. 2007. http://decision.math.hr/nastava/predavanja/Modeli%20u%20odlucivanju.pdf.

Damasio, Antonio R. 1995. Toward a Neurobiology of Emotion and Feeling: Operational Concepts and Hypotheses. The Neuroscientist no. 1, 19–25,

Damasio, Antonio R. 1996. ,Descartes’ error: Emotion, reason and the human brain. New York: Macmillan.

Goleman, Daniel. 2002. Emocionalna inteligencija. Beograd: Geopolitika.

LeDoux, Joseph E. 1995. „Emotion: Clues from the Brain“. Annual Review of Psychology. 46; 209–235.

LeDoux, Joseph E. and William Hirst. 1986. The neurobiology of emotion: Mind and Brain. Dialogues in cognitive neuroscience, Cambridge University Press, 301–354.

LeDoux, Joseph E. 1992. Emotion and the Amygdala, The Amygdala: Neurobiological Aspects of Emotion, Memory and Mental Dysfunction (J. P. Aggleton, ed.), Wiley–Liss, 339–351.

LeDoux, Joseph E. 1996. The emotional brain. New York: Simon & Schuster.

Loewenstein, George. F.; Eike U. Weber, Christopher K. Hsee and Ned Welch. 2001. „Risk as Feelings“. Psychological Bulletin. 2: 267–286

Myers, David G. 1992. Psychology. Hope College Holland. Michigan: Worth Publishers.

Schore, Allan. 1994. Affect Regulation and the Origin of Self, Hillsdale, NJ, Lawrence Erlbaum Associates. In Goleman, D. 2002. Emocionalna inteligencija. Beograd: Geopoetika.

Sloman, Steven. A. 1996. „The empirical case for two systems of reasoning“, Psychological Bulletin 119, 3–22.

Šapiro, Lorens E. 1998. Emocionalna inteligencija – kako vaspitanjem dobiti dete s visokim EQ. Beograd: Narodna knjiga. Alfa.

Wilson, Timoty. D.; Douglas J. Lisle, Jonathan W. Schooler, Sara D. Hodges, Kristen J. Klaaren and Suzanne J. LaFleur. 1993. „Introspecting about reasons can reduce post-choice satisfaction“. Personality and Social Psychology Bulletin 19: 331–339.

Downloads

Published

2013-06-15

Issue

Section

Professional Paper

How to Cite

IMPORTANCE OF EMOTIONS IN DECISION MAKING IN ECONOMY AND BUSINESS. (2013). Zbornik Radova Ekonomskog Fakulteta U Istočnom Sarajevu, 7, 343-354. https://doi.org/10.7251/ZREFIS1307343S