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Behavioral Economics

Summer Institute on Emotion and Decision

Project Date:
Award Amount:
$10,000
Summary

How do people make choices? Some social scientists assume that humans rely primarily on rational analysis and a well-informed understanding of their self-interest to make decisions. However, research has revealed that emotions affect people’s decision-making both consciously and subconsciously, often preventing people from making rational, objective decisions.

 

To better understand the intersection between emotion and decisions in psychology and economics, Roy Baumesiter and George Loewenstein have organized a summer institute entitled Emotion and Decision at the Center for Advanced Studies in the Behavioral Sciences from July 6-August 6, 2004. Throughout the summer, participants will engage in forums considering several topics, such as how affect influences judgment and choice, whether emotions lead to better or worse decisions, how emotions enter into preferences, and whether all behaviors should be understood as the outcome of a decision or if emotional impulses leave people with the impression that they have no choice but to act in a certain way. With support from the Foundation, this summer institute will expose younger scholars to research from established scholars in the field of emotion and affect.

Academic Discipline:
Research Priority