The Cognitive and Behavioral Economics Initiative (CBEI) supports research into the role of cognitive processes in explaining economic behavior, and the consequences of cognitive limitations for the way in which behavior responds to changing environments and policies. Among other goals, it seeks to deepen the empirical foundations of economic analysis by encouraging exchange of ideas among economists, psychologists, and neuroscientists. Among the activities supported by the Initiative is the Cognition and Decisions Lab, which is a joint venture among principal investigators Michael Woodford, Mark Dean and Hassan Afrouzi – faculty members of the Department of Economics. The lab’s aim is to use tools and techniques from economics, neuroscience and psychology to better understand the cognitive processes underlying economic decision making. Current projects include studying the way in which limited attention is allocated during choice and understanding the role of incomplete preferences in economic decision making.
To learn more about research and ongoing projects visit: https://www.cognition.econ.columbia.edu/projects