The joint effect of framing and defaults on choice behavior.

The framing effect leads people to prefer a sure alternative over a risky one (risk aversion) when alternatives are described as potential gains compared to a context-dependent reference point. The reverse (risk propensity) happens when the same alternatives are described as potential losses. The default effect is the tendency to prefer a preselected alternative over other non-preselected given options, without facilitating nor incentivizing the choice. These two effects have mainly been studied separately. Here we provided novel empirical evidence of additive effects due to the application of both framing and default within the same decision problem in a large sample size (N = 960). In the baseline condition, where no default was provided, we measured the proportion of risky choices in life-or-death and financial decisions both presented in terms of potential gains or losses following the structure of the Asian disease problem. In the sure default condition, the same layout was proposed with a flag on the sure option, whereas in the risky default condition, the flag was on the risky option. In both default conditions, we asked participants whether they wanted to change the preselected option. Overall, the comparison between these conditions revealed three distinct main effects: (i) a classic framing effect, (ii) a larger risk propensity in the life-or-death scenario than in the financial one, and (iii) a larger default effect when the flag was on the risky, rather than on the sure, option. Therefore, we conclude that default options can enhance risk propensity. Finally, individual beliefs about the source of the default significantly moderated the strength of the effect. Underlying mechanisms and practical implications are discussed considering prominent theories in this field.

Affective perception of Euro banknotes: cognitive factors and interindividual differences.

Money can be a tool to achieve a wide range of goals in everyday life. Different studies have reported that both the mere exposure to money and its use as a reward can determine cognitive and social effects. Nevertheless, little is known about the basic affective perception of Euro banknotes. Thus, in the present study we aim to assess differences in valence, arousal and familiarity evaluations of banknote pictures (from 5 to 500€) by taking into account gender, socioeconomic status and Love of Money (LoM) score, which measures the subjective attitude toward money, in a sample of participants. We found that valence and arousal increase with the nominal value of the banknotes, and that the relationship between these affective scores and the nominal value appears to be logarithmic (Weber's law) rather than linear. High value banknotes were evaluated as pleasant, highly arousing, and less familiar. Low value banknotes instead were evaluated as more familiar, less arousing and neutrally valenced. Finally, we found that valence and arousal evaluations are mainly influenced by the LoM score of our participants. Instead, gender and economic condition influenced only arousal scores. These findings suggest the importance of deepening the study of these variables to shed light on money-related biases and abnormal economic behaviors.

How emotional is a banknote? The affective basis of money perception.

Previous studies have shown that money possesses affective properties even when it is not at stake within a given task. Smaller economic values are generally perceived as less arousing and neutral in valence, whereas larger ones are perceived as more arousing and positive in valence. Moreover, numerical cognitive processes seem to be less prominent than affective ones in the way we perceive economic values. To shed light on the basic affective components of monetary values, we ran three experiments on the perception of banknotes to test (i) whether banknotes with different values (5€ and 100€) trigger different emotional states, (ii) if values are horizontally mapped based on their valence, rather than on their numerical magnitude, and (iii) whether the lateralized sight (in the left or right visual field) of a positive (higher) monetary value interferes with the classification of a negative stimulus. Results showed a coherent pattern that corroborates the idea that money is indeed an affective stimulus, even when it is not at stake within the task. A higher monetary value was shown (i) to have intrinsic rewarding properties that influence the evaluation of a subsequent target, (ii) to be mentally mapped on the right side, which is related to positive approaching of affective stimuli in right-handers, and (iii) to be in conflict with negative-withdrawing targets, but only when the values were presented on the right-positive side of respondents. Results are discussed considering existing theories of the psychological value of money, highlighting the hedonic characteristics of this special affective stimulus.

Healthiness or calories? Side biases in food perception and preference.

The visual perception of a product and the ability to categorize it play a central role in food choice. People's opinion of the healthiness and caloric content of a food is influenced substantially by its appearance. Despite that, few studies have analyzed i) which one of the two dimensions of caloric content and healthiness is preferred to categorize food, ii) if these dimensions are mapped on the individuals' horizontal space, and iii) if such biases could influence food preferences. Therefore, through 4 experiments, we investigated which dimension, healthiness or caloric content, is more often used to categorize foods. We also evaluated whether a healthiness/caloric content side bias could be able to influence food preferences. We found that foods were mainly categorized as "Healthy" or "High-calorie" and the latter label was used more often when presented on the right of a foodstuff. Also, foods were categorized as healthier when the "Healthy" label was anchored to the left and the "Unhealthy" one to the right side of a visual analogue scale. Then, we found a more positive evaluation of transformed food when the key assigned to the "Pleasant" choice was on the right compared to the left. Lastly, we found that when presented on the left side, low-calorie was preferred compared to high-calorie food. Our findings shed light on both the fields of food categorization and side biases in food perception and preferences, suggesting the possibility to use these biases to promote a healthy diet and emphasizing the importance of considering this potential confounder in experimental setups.

How Much Money Do You Need to Feel Taller? Impact of Money on Perception of Body Height.

Body height is considered to be one of the most important reproductive signals. However, there are only a few publications on what influences the sense of whether we assess ourselves as tall or short. In the present contribution, the psychological impact of money on the evaluation of a person's own height was tested. We performed two experimental studies in which the respondents had contact with different amounts of money and were asked to evaluate their body height with the use of a laser pointer. The first experiment (N = 61) showed that contact with money significantly increased subjective height evaluation, and the effect was independent of participants' real body height. The second experiment (N = 120) replicated the effect of money manipulation. Moreover, it was shown that higher amounts of money increased one's own height estimation more than smaller amounts. Our research shows that money can be used for building one's social position, which is an attractiveness signal that can influence one's own height evaluation.

Shall I Show My Emotions? The Effects of Facial Expressions in the Ultimatum Game.

Over the past fifteen years, research has demonstrated the central role of interpersonal emotions in communicating intentions, goals and desires. These emotions can be conveyed through facial expressions during specific social interactions, such as in the context of coordination between economic agents, where information inferred from them can influence certain decision-making processes. We investigated whether four facial expressions (happiness, neutral, angry and disgusted) can affect decision-making in the Ultimatum Game (UG). In this economic game, one player (proposer) plays the first move and proposes how to allocate a given amount of money in an anonymous one-shot interaction. If the other player (responder) accepts the proposal, each player receives the allocated amount of money; if he/she rejects the offer, both players receive nothing. During the task, participants acted as the responder (Experiment 1) or the proposer (Experiment 2) while seeing the opponent's facial expression. For the responders, the results show that the decision was mainly driven by the fairness of the offer, with a small main effect of emotion. No interaction effect was found between emotion and offer. For the proposers, the results show that participants modulated their offers on the basis of the responders' expressed emotions. The most generous/fair offers were proposed to happy responders. Less generous/fair offers were proposed to neutral responders. Finally, the least generous/fair offers were proposed to angry and disgusted responders.

Side Biases in Euro Banknotes Recognition: The Horizontal Mapping of Monetary Value.

Money is a special stimulus for humans, because of its relevance in everyday life. However, the basic mechanisms underlying money representation have not yet been fully investigated. Left-right asymmetries in the visual perception and evaluation of monetary value offer such a possibility. The pattern of these asymmetries can contribute to disentangle between numerical and emotional processes possibly involved in banknotes perception. In the present experiment, we tested the recognition of 5€and 100€ banknotes presented in the left and right visual fields. Results show that the 100€ banknote is recognized faster than the 5€ banknote in the Right Visual Field (RVF), while there is no difference in the Left Visual Field (LVF). Our interpretation is that this effect is due to the matching between the positive valence conveyed by the 100€ banknote and the side in which it is mapped (right-positive). We consider this result as evidence of a valence-based recognition of banknotes.

Hemispheric asymmetries in setticlavio reading.

Musical setticlavio (literally, seven clefs) reading refers to the ability to read (i.e., to say aloud, without to sing) the musical note labels in the 7 musical clefs. The present research report aims to investigate hemispheric asymmetries in such a basic musical ability, very poorly investigated in the domain of cognitive neurosciences. Sixty-three musicians underwent lateralized tachistoscopic presentation of musical notes on staves, 50% in the left and 50% in the right visual field, associated with each of the 7 musical clefs. The subjects' task was to pronounce as fast as possible the name of the presented note, taking into account the current clef symbol. Mixed directions of asymmetry with different involvements of the left and right hemisphere in each clef were observed. Whereas reading in the treble, bass, alto, tenor, and mezzosoprano clef showed no lateral asymmetries, a left hemisphere asymmetry was observed with the soprano clef and a right hemisphere asymmetry with the baritone clef. This effect was observed with accuracy but not with reaction time. These results suggest that there is not a univocal hemispheric balance in musical setticlavio reading, reflecting several possible underlying reading mechanisms. Moreover, inversely proportional results between performance (both accuracy and reaction time) and distance from the reference clef (treble) suggest that setticlavio reading is based on a spatial rather than verbal code. (PsycINFO Database Record

Hemispheric Asymmetries in Price Estimation: Do Brain Hemispheres Attribute Different Monetary Values?

The Spatial Numerical Association of Response Codes (SNARC) effect has been associated with a wide range of magnitude processing. This effect is due to an implicit relationship between numbers and horizontal space, according to which weaker magnitudes and smaller numbers are represented on the left, whereas stronger magnitudes and larger numbers are represented on the right. However, for some particular type of magnitudes such as price, judgments may be also influenced by perceived quality and thus involving valence attribution biases driven by brain asymmetries. In the present study, a lateralized tachistoscopic presentation was used in a price estimation task, using a weight estimation task as a control, to assess differences in asymmetries between these two attributes. Results show a side bias in the former condition but not in the latter, thus indicating that other non-numerical mechanisms are involved in price estimation. Specifically, prices were estimated lower in the left visual field than in the right visual field. The proposed explanation is that price appraisal might involve a valence attribution mechanism leading to a better perceived quality (related to higher prices) when objects are processed primarily in the left hemisphere, and to a lower perceived quality (related to lower prices) when objects are processed primarily in the right hemisphere.

Perceptual and motor laterality effects in pianists during music sight-reading.

Forty-six right-handed pianists were tested in a music sight-reading task in which they had to perform on a keyboard. Stimuli were single notes or single triads (chords) presented tachistoscopically in the left or right visual field in form of musical notation or verbal labels. Left-hand, right-hand or two-hands performance was required. Results showed, besides the expected Simon effect producing faster responses for stimuli to be performed with the hand ipsilateral to the side of presentation, a complex pattern of laterality which depended primarily upon the requested motor output. A tendency in favor of the left hemisphere (right visual field, RVF) was observed, this asymmetry being significant only in the single-hand tasks. On the contrary, in the two-hands task an opposite asymmetry was observed with musical notation. Moreover, a strong unexpected role of the bass clef was observed, which penalized left hand performance in particular with LVF stimuli. This effect even overcame the Simon effect, suggesting the presence of a bias in favor of the left hemisphere in musical transposition. Results point to a variegated pattern of hemispheric asymmetries in music sight-reading which depend on both stimulus coding and motor output type (e.g. two- or single-hand performance). A RH asymmetry was observed during two-hands playing with musical notation. Conversely, playing with one hand seems more leftward lateralized. This pattern of asymmetry would reflect a LH ability in simple "core" music reading together with a RH ability in the coordination of simultaneous responses by the two hands.