Brains and Guts: How We Make Economic Decisions

Economic Decisions

How people make decisions that involve social (e.g., to split 10€ between persons), risk (win 10€ for sure or 25% chance to win 100€), or intertemporal (e.g., 10€ today or 100€ in a week) tradeoffs has long been investigated by behavioral scientists. More recently, the interest has shifted towards understanding the underlying cognitive processes. People can adopt different modes of cognitive processing - relying on gut feelings or engaging in deliberate thought. We investigate how people strategically adopt such modes of processing and the effects of doing so for their decisions.

If you are interested in the cognitive processes underling economic decisions and want to write a B.Sc. or M.Sc. thesis on this topic, please contact maik.bieleke [at] (Dr. Maik Bieleke) for further information.

Recent publications:

  • Bieleke, M., Gollwitzer, P. M., Oettingen, G., & Fischbacher, U. (2017). Social value orientation moderates the effects of intuition versus reflection on responses to unfair ultimatum offers. Journal of Behavioral Decision Making, 30, 569–581.
  • Gollwitzer, P. M., Bieleke, M., & Sheeran, P. (2017). Enhancing consumer behavior with implementation intentions. In C. Jansson-Boyd & M. Zawisza (Eds.), International handbook of consumer psychology. Abingdon & New York: Routledge.
  • Lang, F. (2017) .Diffusion model approach of social information processing (Bachelor's thesis). University of Konstanz, Konstanz, Germany
  • Schiek, H. (2017). Intuitive versus deliberative information processing in decisions under risk (Bachelor's thesis). University of Konstanz, Konstanz, Germany
  • Martiny-Huenger, T., Bieleke, M., Oettingen, G., & Gollwitzer, P. M. (2016). From thought to automatic action: Strategic and spontaneous action control by if-then planning. In B. Gawronski, R. Deutsch, & W. Hofmann (Eds.), Reflective and impulsive determinants of behavior. New York: Psychology Press.