Holding three appointments at MIT
at the Department of Economics, Department of Brain and Cognitive Sciences, and at the Sloan School of Management.
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Dražen Prelec: THE BRAIN AS DECISION MAKER
Neuroeconomics provides a very interesting window into the workings of the brain in yet another arena, decision making — where psychology and neuroscience intersect. Inherent in neuroeconomics are decisions that involve such factors as risk, effort involved, time, self-control, among others. Prof. Prelec investigates both the development of normative decision theory and the exploration of the empirical failures of that theory. In this talk, he will discuss a variety of factors that come into play in the normal course of our everyday activities that are both causal and non-causal. |
| Professor Drazen Prelec, born in Croatia’s capital Zagreb in 1955, completed his studies of Applied Mathematics at Harvard University in 1978, and earned Ph.D in 1983 in Experimental Psychology. He is one of the leading experts in Neuroeconomics, where pscychology and neuroscience intersect. Professor Prelec investigates both the development of normative decision theory and the exploration of the empirical failures of that theory. He is employed at MIT, holding three appointments: at the Department of Economics, Department of Brain and Cognitive Sciences, and at the Sloan School of Management. |
| Dražen Prelec’s research Drazen Prelec’s research deals with the psychology and neuroscience of decision making (behavioral economics and neuroeconomics; risky choice, time discounting, self-control, consumer behavior). He works both on the development of normative decision theory and the exploration of the empirical failures of that theory, using behavioral and fMRI methods.  A current project on “self-signaling” tries to understand the strange power of non-causal motivation — when individuals favor actions that are diagnostic of good outcomes, even though these actions have little or no causal force. Diagnostic motivation is real, and is probably essential for human self-control. Its cognitive and neural mechanisms are not well understood however. |
| Professor Držane Prelec Education Harvard University, Ph.D 1983 in Experimental Psychology Harvard College, AB 1978 in Applied Mathematics Principal positions Professor, Department of Economics, MIT, secondary appointment: 2007— Professor, Department of Brain and Cognitive Sciences, MIT, secondary appointment: 2007— Digital Equipment Corporation LFM Professor of Management, Sloan School: 2002 — Professor of Management Science, Sloan School: 1998-2002 Associate Professor of Management Science, Sloan School: 1991-1998 Assistant Professor of Managerial Economics, Harvard Business School: 1985-1991  Honors, awards, visiting positions |
for his information about his colleague Dražen Prelec.
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