A Literature Review of Social Mood
Year: 2006
Type: article
Abstract: Emotions exert a significant influence on financial behavior. The "socionomic hypothesis" posits social mood, the collective mood of individuals, as a primary causal variable in financial and social trends. In order to provide a scientific basis for the study of social mood, this article reviews psychological research on major mood-related elements of personality: affect, motivation, and personality traits. We examine the structure and functions of these core personality dimensions, and discuss research on contagion processes by which individuals' moods spread and manifest in a collective social mood. We also address implications for financial and economic behavior. Social mood is rooted in empirically established personality dimensions that are fundamental to human nature, and can influence financial outcomes.
Source: Journal of Behavioral Finance
Author: Kenneth R. Olson
Institution: Fort Hays State University
Language: English
Subfield: Finance
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W2033358915