Research On The Influence Of Emotion And Color On Risk Aversion Behavior

In the past study found that there is a psychological effect of color in the field of risk decision-making.Risk information characterized by different colors have an impact on individual risk avoidance behavior.However,if the effectiveness of the frame effect of color is to be improved,it is necessary to pay more attention to the applicable conditions of the type of frame effect.Among them,emotion is a very important factor.Many studies found that emotions have an impact on a risk avoidance motivation.Based on the support of such literature,The study introduces emotional variables and explores whether risk information characterized by different colors will affect the decision-maker's risk avoidance behavior,which under the different emotional conditions.The study was divided into three experiments.Adopting the predecessor's experimental paradigm named "priced to be paid",pricing the improved product as an indicator of the degree of risk avoidance of individual risks.Experiment 1 selected 34 participants and used a single factor test design with 3 levels(color:red vs blue vs gray).The results show that the main effect of color is significant.Compared to blue and gray,red can stimulate a stronger risk avoidance behavior,while blue has no such effect.It confirms the existence of the "red psychological effect" in previous studies.Experiment 2 selected 60 subjects,including 30 in the angry group and 30 in the neutral group.The experiment used a mixed experimental design of 2(emotion:anger vs neutral)× 2(color:red vs gray),in which the color is the in-group variable and the emotion is the inter-group variable.The experimental results show that the main effect of color is significant;the main effect of emotion is not significant;the interaction between emotion and color is not significant,Both may have an impact on risk avoidance behavior.Experiment 3 selected 60 subjects,including 30 in the fear group and 30 in the neutral group.The experiment used a mixed experimental design of 2(emotion:fear vs neutral)× 2(color:red vs gray),in which the color is the in-group variable and the emotion is the inter-group variable.The experimental results show that the main effect of color is significant;the main effect of emotion is not significant;the interaction between emotion and color is significant.Fear and red have a combined-effect on the risk behavior.In summary,the following conclusions are drawn through this experimental study:(1)The color representation of risk information affects risk avoidance behavior.Compared with blue and gray,red information can trigger stronger risk avoidance behavior;(2)No direct connection between emotion and individual risk avoidance behavior is found;(3)Emotion and color jointly affect the individual's risk avoidance behavior.The fear emotion strengthens the red psychological effect,the anger emotion does not find this strengthening effect.