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George Loewenstein on Hot and Cold Affect

Social Science Bites

CHAPTER

The Importance of Empathy Gaps in Decision Making

According to conventional economics, we should be thinking about what is it that we will want in the future. The empathy gaps going in the opposite direction also have very substantial consequences for decision-making. When you are in a particular mood state, like if you are depressed, you can't remember what it felt like to not be depressed. That's a big ingredient of a lot of suicide.

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