Dean for Science Lecture 2019 With Elke Weber, Ph.D.

Speaker: Elke Weber, Ph.D.

“Risk as Feelings” and “Perception Matters”: Assembling Human Preferences One Psychological Process at a Time

Time: 5:00 PM – 6:30 PM (Reception to Follow)
Date: Monday, February 4th, 2019
Location: NYU Rosenthal Pavilion 60 Washington Square South, 10th floor New York, NY 10012

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Abstract:

Descriptive theory about action in the face of risk and uncertainty models how real people—from citizens and consumers to policymakers and managers—actually make decisions, in contrast to the rational models of economics that tell us how we ought to make such decisions. Applying psychological theories and insights can explain economic puzzles or so-called anomalies, that is observed deviations in reported reactions or behavior from what the rational models would predict. They also allow for the design of choice environments that capitalize on the sources of human strengths and minimize the impacts of human shortcomings to help people achieve their long-term goals in domains that range from pension savings and eating disorders to climate change action.

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