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Updated: May 28, 2025

Measuring the Subjective Value of Risky and Ambiguous Options using Experimental Economics and Functional MRI Methods
Published on: September 19, 2012
Mental imagery shapes emotions in people's decisions related to risk taking
Joanna M Smieja1, Tomasz Zaleskiewicz1, Agata Gasiorowska1
1SWPS University, Center for Research in Economic Behavior (CREB), Ostrowskiego 30b, 53-238 Wroclaw, Poland.
Abstract:
This research investigates the specific effects of mental imagery on people's emotional responses and risk-taking decisions. We present findings across four studies, including three experiments, that highlight emotions as a mediator between the valence of mental images related to risk and subsequent risk-taking propensity. Our research identifies two key factors that moderate this relationship: the category of cognitive process (analytical thinking vs. visual mental imagery) and the vividness of mental imagery. In Study 1, we found an effect of the valence of mental images on the intensity of emotional reactions, which in turn were linked to risk-taking willingness. Positive imagery corresponded with stronger positive emotions and increased declared risk taking. The experimental Study 2 provided causal evidence for these associations, showing that participants positively imagining risk-related behaviors reported more intense positive feelings and a greater inclination to take risks than those imagining risk taking in a negative manner. Subsequent preregistered experiments (Studies 3 and 4) corroborated our central hypothesis that mental imagery is a distinct driver of emotional responses in risk-related decision making and showed potential boundary conditions for this effect. Study 3 emphasized that decisions influenced by mental imagery had greater emotional strength than those based on analytical reasoning. The final Study 4 demonstrated that vividness of mental imagery further moderates this effect: more vivid images led to stronger emotions, thus affecting risk-taking propensity. These results underscore the significance of emotions in decision making, particularly when decisions are based on mental imagery rather than analysis, and point to the amplifying effect of image vividness on emotional and decision-making processes.
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