Two experiments investigated how preference for emotions is related to valence and activation of current mood, anticipated emotional reaction, and experienced emotional reaction. In Experiment 1, 40 undergraduates on one occasion rated valence and activation of and preference for their emotional reaction to an aircraft noise, then on a later occasion rated valence and activation of and preference for their recalled or anticipated emotional reaction to the same aircraft noise. On both occasions they also rated valence and activation of current mood. In Experiment 2, another 40 undergraduates rated valence and activation of current mood followed by ratings of preference for and valence and activation of anticipated emotional reaction to descriptions of familiar emotion-eliciting situations. The results showed that preference is related to valence and activation of current mood, anticipated emotional reaction, or experienced emotional reaction. The valence of current mood was also found to influence preference for anticipated and experienced emotions.