Cognitive and Behavioral Economics Initiative
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. 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 Decision Lab, a joint venture among principal investigators – Michael Woodford, Mark Dean and Hassan Afrouzi – faculty members of the Department of Economics.
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.