%0 Report
        %A Delaney, Liam
%A Fink, Günther
%A Harmon, Colm P.
        %T Effects of Stress on Economic Decision-Making: Evidence from Laboratory Experiments
        %D 2014
        %8 2014 Mar
        %I Institute of Labor Economics (IZA)
        %C Bonn
        %7 IZA Discussion Paper
        %N 8060
        %U https://www.iza.org/index.php/publications/dp8060
        %X The ways in which preferences respond to the varying stress of economic environments is a key question for behavioral economics and public policy. We conducted a laboratory experiment to investigate the effects of stress on financial decision making among individuals aged 50 and older. Using the cold pressor task as a physiological stressor, and a series of intelligence tests as cognitive stressors, we find that stress increases subjective discounting rates, has no effect on the degree of risk-aversion, and substantially lowers the effort individuals make to learn about financial decisions.
        %K risk aversion
%K discounting
%K financial decisions
%K stress
%K learning