Samuel Pertl

Done

A multinational analysis of how emotions relate to economic decisions regarding time or risk - Nature Human Behaviour Using a dataset spanning 74 countries, Pertl et al. show that emotions predict intertemporal and risky decision-making. These relationships are stronger in more economically developed and individualis...

Huge thank you to my co-authors Tara Srirangarajan and Oleg Urminsky (@olegurminsky.bsky.social), and a great team of research assistants.

Link to paper: www.nature.com/articles/s41...

Global Analysis

1) Emotions predict economic decisions on a global scale

2) Emotions are not universal predictors of financial decisions

3) Economic development and cultural individualism explain cross-country differences in whether emotions predict financial decisions

Some evolutionary theories suggest that emotions are universal drivers of decision-making, yet prior research has primarily relied on samples from a few countries. We analyzed data from 77,242 individuals from 74 countries, linking their emotional experiences to their financial decisions.

Meta-Analysis

1) 378 results & 50,972 participants

2) Mixed evidence for the influence of incidental emotions on financial decision-making

3) More significant meta-analytic evidence when researchers measured rather than manipulated emotions

4) 97% of studies come from highly developed countries

We studied the influence of incidental emotions on financial decision-making (intertemporal & risky decisions) through 1) a systematic review & meta-analysis of the prior literature, and 2) a global analysis with representative samples from 74 countries.

Like so many, I’m new here and excited to share a short 🧵 about our paper in the current issue of Nature Human Behaviour (@naturehumbehav.bsky.social)!

Key takeaway: The influence of emotions on financial decision-making is not universal but varies substantially and systematically across countries.

Would you mind also adding me to Marketing Academics? Thank you!

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