DR@W
DR@W
Decision Research at Warwick (DR@W) is an interdisciplinary initiative which focuses on behavioural and experimental research of decision making.
Formed in January 2010, DR@W brings together researchers and students from Economics, Psychology, Statistics, Warwick Mathematics Institute, Warwick Manufacturing Group and Warwick Business School that are interested in current developments in the area of experimental and behavioural research.
The Department of Economics have created and manage a large computer laboratory for use with experiments.
Visit the Decision Research at Warwick website for further details.
DR@W Forum: Pedro Bordalo (Said Business School, Oxford)
We present a theory of decisions in which attention to the features of choice options is determined by the decision maker's categorization of the current choice problem in a set of problems she solved in the past. Categorization depends on goal-relevant as well as contextual problem-level features. The model yields systematic heterogeneity in attention and choice in a given problem based on different past experiences, rigidity of choices when categorization does not change despite new data, and discontinuous shifts when changes in bottom-up salient features cause re-categorization. The model unifies major puzzles and framing effects in riskless, statistical, and lottery choice based on heterogenous and unstable mental representations.