Area 3: Product Market Regulation and Consumer Decision-Making
To develop realistic decision-making models, using results from psychology, as well as experimental and statistical data, this research area intends to assess the performance of product market institutions. The team investigates how real-life decision-making processes affect economic efficiency and the sharing of the surplus between consumers and firms in market environments.
It involves strong cooperation between researchers from the three institutions with different specialties: behavioral economics, psychology, game theory, and applied econometrics.
Policy recommendations will be derived from the ensuing empirical and theoretical analyses of such market “imperfections” both for existing markets as well as for the creation of new markets.
Here is their presentation at the last Board of Trustees.
Here is an updated list of the Area publications.