Our research aims at a better understanding of how people make decisions and judgments. In particular, we are interested in how consumer behavior systematically varies 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.

Methodological Advances in Economic Psychology

We try to extend the methodological toolbox of researchers in social sciences. This includes an ongoing project that tests the validity of computational models of behavior for explaining and predicting behavior. Here, we show that model parameters are often highly correlated which impairs explanatory power. We identify reasons for this intercorrelation and provide feasible solutions for this problem. As a research group we are also interested in new methodological approaches to analyze data, in particular Bayesian statistics and Bayesian hypothesis testing. We also develop new methodological tools, for example on implicit measures of consumer preferences based on reaction times and 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.