Decision and Neuroeconomic Theory Group

How do human beings make economic decisions, and how can we model the underlying processes and mechanisms? The focus of the group is on “Psychoeconomics,” defined as the confluence of psychology, economics, and neuroscience to study human decision making. We are interested in how humans make economic decisions, both in individual settings (decision theory) and interpersonal ones (game theory), including aggregation of decisions (social choice) and their organizational impact (management science). Our research methods range from formal-analytical modelling of bounded rationality (evolution and learning in games) to behavioral experiments (experimental economics, experimental psychology) and decision neuroscience ("neuroeconomics", chiefly EEG). A special emphasis is placed on neuroeconomic theory, which builds upon insights from psychology and neuroscience to improve economic models.