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Experiencers were more sensitive to the probability of winning $1 (i.e., 10% or 90%) when probability information was made salient immediately before they reported their happiness in Experiment 4. Bars represent 1 SEM.  

Experiencers were more sensitive to the probability of winning $1 (i.e., 10% or 90%) when probability information was made salient immediately before they reported their happiness in Experiment 4. Bars represent 1 SEM.  

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Affective forecasters often exhibit an impact bias, overestimating the intensity and duration of their emotional reaction to future events. Researchers have long wondered whether the impact bias might confer some benefit. We suggest that affective forecasters may strategically overestimate the hedonic impact of events to motivate their production....

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... important, there was a significant salience probability of winning interaction, F(1, 71) 9.06, p .004, 2 .11 (see Figure 4). Replicating the findings of Experiments 1-3, experiencers in the low salience condition were equally happy having won $1, whether the proba- bility of winning was 10% (M 11.31, SD 1.85) or 90% (M 11.44, SD 1.98), F 1. In contrast, experiencers in the high salience condition were happier having won $1 when the proba- bility of winning was 10% (M 12.84, SD 0.375) than when it was 90% (M 10.50, SD 2.19), F(1, 71) 17.89, p .001, 2 .20. ...

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... Studies of affective forecasting have generally shown that individuals overestimate the extent of emotion they will feel, a finding referred to as the impact bias (see review by Miloyan & Suddendorf, 2015). It has been argued that this tendency reflects not just cognitive bias in the estimation of future emotional states (Wilson et al., 2000) but also a motivational strategy (either implicit or explicit) that serves to facilitate decision making and goal-directed action by increasing the salience of desirable and undesirable outcomes (Morewedge & Buechel, 2013). ...
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... However, affective forecasting bias may also serve a functional purpose. Affective forecasters may strategically overestimate the hedonic impact of events to motivate themselves to produce the events that they forecast (Morewedge and Buechel, 2013). ...
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Introduction People’s forecasts of their future emotions play an essential role in their behavior and experience of well-being. However, their emotional reactions may fall short of what they expect, which has implications for subsequent decision making. The current paper investigated the accuracy of affective forecasting about resource allocations and how this (in)accuracy predicts future allocation decisions. Methods Two experimental studies were conducted. Study 1 (N = 84) examined the extent to which people can accurately predict how allocation decisions will feel using an ultimatum game on the part of the allocator. Study 2 tested whether the affective forecasting bias affects future allocation decisions, with 192 participants playing a two-round ultimatum game on the part of allocators. Results Study 1 found an affective forecasting bias, and people anticipated more powerful emotional reactions to both positive and negative allocation events than they actually experienced when the events occurred. Study 2 found that increased affective forecasting bias resulted in less generous decisions in positive event conditions and more generous decisions in negative event conditions. Discussion These results extend previous findings concerning affective forecasting bias and the feelings-as-information model in resource allocation interactions and show that the difference between anticipated and experienced emotion is also informative in allocation decisions. The results suggest that being more cautious when forecasting positive outcomes and more optimistic when forecasting negative outcomes can be beneficial to one’s well-being.