Since the advent of the discounted utility (DU) model economists have thought about intertemporal choice in very specific terms. DU assumes that people make explicit tradeoffs between costs and benefits occurring at different points in time. While this explicit tradeoff perspective is simple and...

This article, prepared for the forthcoming third edition of The Handbook of Emotion, surveys behavioral economic and neuroeconomic research on the influence of expected and immediate emotions on decision making under risk, intertemporal choice, and social preferences