Recently, advice taking has received attention in decision‐making research, and some studies suggest that emotions may play a role in this process. Yet a clear account of how emotions influence advice taking is lacking. The current research introduces a parsimonious explanation by suggesting that such effects can be predicted on the basis of two emotion dimensions: valence (positivity or negativity) and agency (self‐focused versus other‐focused). In five experiments with different emotion inductions and different measures for advice taking, the effects of positive emotions such as gratitude and pride and of negative emotions such as anger and shame on advice taking were studied. The findings reveal that emotion valence and agency exert an influence on advice taking and that this interaction effect is mediated by the perceived ability of the advisor. Together, these findings provide a unique theoretical and empirical contribution to our understanding of emotions in advice taking. Copyright © 2013 John Wiley & Sons, Ltd.