“…More generally, it also contributes to the literature exploring the role of emotions in economic behavior (e.g., Loewenstein, 2000;Loewenstein and Lerner, 2003;Rick and Loewenstein, 2008;Battigalli et al, 2019). Unlike previous research which directly manipulates mood or emotional state and measure its effect on other regarding preferences, (e.g., Capra, 2004;Kirchsteiger et al, 2006;Tan and Forgas, 2010;Ibanez et al, 2017;Pérez-Dueñas et al, 2018), we investigated how emotions can explain the effect of the violations of expectations on a subsequent pro-social behavior. Our paper provides suggestive evidence that anticipatory emotions are a better predictor of the effect of losses and gains on transfers than emotions after revelation.…”