Emotional Styles in Economics: An Unmet Need
Presented by:
Reka Sundaram-Stukel
Department of Economics
UW-Madison
Wednesday, October 2, 2024
12:00 pm-1:15 pm
Taylor-Hibbard Seminar Room (Rm103)
We introduce emotional style dimensions of Resilience, Outlook, Self-Awareness, Sensitivity-to-Context, Social-Intuition, and Attention in two economic contexts. First, we explore the relationship between Emotional Styles and post-COVID-19 economic expectations, modeled as economic-outlook and expectations of returning-to-normalcy. We find that healthy emotional style dimension Outlook is positively associated with economic outlook, and both Self-Awareness and Social-Intuition are correlated with personal experiences with the Stay-At-Home-Order. Second, we estimate the Mincer wage equation with emotional style dimensions (Outlook, Resilience, and Attention). We establish a statistically significant relationship between Attention and wages. Our findings reveal emotional style dimensions’ potential for various researchable economic questions.