Our research aims at a better understanding of the cognitive processes underlying human judgment and decision making. We try to model these processes in a mathematical framework and we are interested vary depending on contextual, environmental, and social influences. We rely on theories from multiple disciplines, including Psychology, Cognitive Science, Marketing, and Management. Methodologically, we follow a quantitative approach that builds on conducting controlled experiments in the lab and in the field and on computer simulations.

Current Research Topics at our Lab

Influence of Basic Psychological Processes on Economic Behavior

We aim to bridge basic psychological research with contemporary questions of how people make judgments and decisions in an economic context. For example, we are interested to find out in how far economic preferences such as risk aversion are due to perceptual biases in how people integrate and estimate numerical information. Another project tries to find out what decision strategies people use when the options to choose from become increasingly uncertain because they are difficult to understand.

Integration of Individual Perceptions and Biases in Social Contexts

Judgments and decisions rarely occur in a social vacuum. Integrating information across individuals may mitigate or exaggerate individual perceptual biases by highlighting or filtering some information. We are interested in which conditions and integration processes result in collective intelligence or the loss of valid information like rare events.

Methodological Advances in Economic Psychology

We try to extend the methodological toolbox of researchers in social sciences. We explore the validity of computational models of behavior for explaining and predicting behavior and we are interested in new methodological approaches to analyze data, in particular Bayesian statistics and Bayesian hypothesis testing. We also develop new methodological tools, for example by trying to predict behavior based on physiological sensors, reaction times or eye movements. 

Improving Consumer Health and Well-Being

A better understanding of consumer behavior can help people who are trying to improve their health and well-being. Towards this goal, we are particularly interested in how people choose food and how consumption decisions are influenced by people’s social environment, for example within their families.