George Loewenstein
Encyclopedia
George Loewenstein is the Herbert A. Simon Professor of Economics
and Psychology
in the Social and Decision Sciences
Department at Carnegie Mellon University
and director of the Center for Behavioral Decision Research. He is a leader in the fields of behavioural economics and neuroeconomics
.
in 1977 and Ph.D. in economics from Yale University
in 1985. He taught at the Booth School of Business
at the University of Chicago
before taking up his present position at Carnegie Mellon University. Loewenstein became a fellow of the American Academy of Arts and Sciences
in 2008. He is the great-grandson
of Sigmund Freud
.
and affective forecasting
.
Economics
Economics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek from + , hence "rules of the house"...
and Psychology
Psychology
Psychology is the study of the mind and behavior. Its immediate goal is to understand individuals and groups by both establishing general principles and researching specific cases. For many, the ultimate goal of psychology is to benefit society...
in the Social and Decision Sciences
Social and Decision Sciences
Social and Decision Sciences, informally known as SDS, is an interdisciplinary academic department within the Dietrich College of Humanities and Social Sciences at Carnegie Mellon University headquartered in Porter Hall in Pittsburgh, PA and led by Department Head John H...
Department at Carnegie Mellon University
Carnegie Mellon University
Carnegie Mellon University is a private research university in Pittsburgh, Pennsylvania, United States....
and director of the Center for Behavioral Decision Research. He is a leader in the fields of behavioural economics and neuroeconomics
Neuroeconomics
Neuroeconomics is an interdisciplinary field that seeks to explain human decision making, the ability to process multiple alternatives and to choose an optimal course of action. It studies how economic behavior can shape our understanding of the brain, and how neuroscientific discoveries can...
.
Biography
He received his B.A. in economics magna cum laude from Brandeis UniversityBrandeis University
Brandeis University is an American private research university with a liberal arts focus. It is located in the southwestern corner of Waltham, Massachusetts, nine miles west of Boston. The University has an enrollment of approximately 3,200 undergraduate and 2,100 graduate students. In 2011, it...
in 1977 and Ph.D. in economics from Yale University
Yale University
Yale University is a private, Ivy League university located in New Haven, Connecticut, United States. Founded in 1701 in the Colony of Connecticut, the university is the third-oldest institution of higher education in the United States...
in 1985. He taught at the Booth School of Business
Booth School of Business
The University of Chicago Booth School of Business is a graduate business school located in Chicago, Illinois, at the University of Chicago. Formerly known as the University of Chicago Graduate School of Business, Chicago Booth is the second oldest business school in the U.S., the first such school...
at the University of Chicago
University of Chicago
The University of Chicago is a private research university in Chicago, Illinois, USA. It was founded by the American Baptist Education Society with a donation from oil magnate and philanthropist John D. Rockefeller and incorporated in 1890...
before taking up his present position at Carnegie Mellon University. Loewenstein became a fellow of the American Academy of Arts and Sciences
American Academy of Arts and Sciences
The American Academy of Arts and Sciences is an independent policy research center that conducts multidisciplinary studies of complex and emerging problems. The Academy’s elected members are leaders in the academic disciplines, the arts, business, and public affairs.James Bowdoin, John Adams, and...
in 2008. He is the great-grandson
Freud family
The family of Sigmund Freud, the pioneer of psychoanalysis, lived in Austria and Germany until the 1930s before emigrating to England, Canada and the United States...
of Sigmund Freud
Sigmund Freud
Sigmund Freud , born Sigismund Schlomo Freud , was an Austrian neurologist who founded the discipline of psychoanalysis...
.
Research
Loewenstein is especially known for his work regarding intertemporal choiceIntertemporal choice
Intertemporal choice is the study of the relative value people assign to two or more payoffs at different points in time. Most choices require decision-makers to trade-off costs and benefits at different points in time. These decisions maybe about savings, work effort, education, nutrition,...
and affective forecasting
Affective forecasting
Affective forecasting is the forecasting of one's affect in the future. This kind of prediction is affected by various kinds of cognitive biases, or systematic errors of thought also known as "empathy gap" and "impact bias"....
.