Very little attention has been given to the influence of emotions on the application of decision rules (DRs). Research in decision-making has largely pointed out the benefits of positive emotions; however, very few studies have compared emotion-induction methods (EIMs) for their efficacy, which makes it difficult to choose a relatively better method among them for a particular purpose. We aim to study the effectiveness and comparison of two EIMs, autobiographical recollection and feedback methods, on the elicitation of positive and negative emotions in an experimental environment to see the influence of positive and negative emotions on the application of DRs and to see whether EIMs have any influence on the application of DRs. Three hundred and twenty-four students were randomly divided in equal numbers to one of the EIMs with the intention to elicit either positive or negative emotion. The Positive Affectivity and Negative Affectivity Schedule was administered before and after EIMs. Subsequently, complete data from 300 students were analyzed. Analysis of variance results suggest both EIMs were effective in emotion induction and the negative emotional state was related to applying decision rules in problem-solving tasks.