Effect

Mechanisms

Theory

Representative studies

Expected utility theory

Von Neumann & Morgenstern, 1944

Cognitive

Prospect theory

Tversky & Kahneman, 1979

Uncertainty effect

Gneezy et al., 2006

Inhibition

Anxiety

MacLeod et al., 1991

Affective

Wu, 1999

Regret

Loomes & Sugden, 1982

Mandel & Nowlis, 2008

Overly positive self-evaluations

Greenwald, 1980

Lerner, 1965

Control illusion

Presson et al., 1996

Cognitive

Unrealistic optimism

Ailawadia et al., 2014

Facilitation

Dhar et al., 1999

Information gap theory

Loewenstein, 1994

Ruan et al., 2018

Suspense

Abuhamdeh et al., 2015

Affective

Interesting

Shen et al., 2018

Excitement

Shen et al., 2014