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Drazen Prelec distinguished Croatian expert for Neuroeconomics and professor at MIT, USA |
By Darko Žubrinić |
Published
08/2/2014
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Science , People , Education
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Unrated
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Holding three appointments at MIT
Dražen Prelec, professor at MIT with three appointments: at the Department of Economics, Department of Brain and Cognitive Sciences, and at the Sloan School of Management. 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.
A second “Bayesian truth serum” project deals with scoring systems for evaluating individual and collective judgment in knowledge domains where no external truth criterion is available. Examples would be long-range forecasts, political or historical inferences, and artistic or legal interpretations. He is developing scoring systems that reward honest judgments, and that can identify truth even when majority opinion is wrong.
Prelec has been a member of the MIT faculty since 1991, and presently holds appointments in the Sloan School, the Economics Department, and the Department of Brain and Cognitive Sciences. He received his Ph. D in experimental psychology and AB in applied mathematics from Harvard University. He was a Junior Fellow in the Harvard Society of Fellows, and has received a number of distinguished research awards, including the John Simon Guggenheim Fellowship.
Source http://bcs.mit.edu/people/prelec.html
| 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
John Simon Guggenheim Memorial Fellowship, 2005-2006 Member (Leon Levy Designated Membership), Institute for Advanced Study, Princeton, 2005-2006 Department of Mathematics, Zagreb University, 2004-2005 Member, Russell Sage Foundation Behavioral Economics Roundtable, 2004-present Fellow, Center for Advanced Study in the Behavioral Sciences, Stanford, 1997-1998 Visiting Scholar, Russell Sage Foundation, New York, 1988-1989 50K Creative Research Award, MIT, 1996 Economics Department, MIT, Fall 1990 Junior Fellow, Harvard Society of Fellows, 1982-1985
Grants
NIH “Neuroimaging the impact of aging on economic decisions,” 2007-2009, co-PI. NSF “Truth and truthfulness: Experimental tests of the Bayesian truth serum,” 2005- 2008, PI. NSF “Emotion and cognitive resources in time discounting,” 2000-2002, NSF “Intraindividual variability in time preference,” 1995-1997, co-PI.
Source http://economics.mit.edu/faculty/dprelec
| Many thanks to Jakša Cvitanić, professor of Mathematical Economics at Caltech, for his information about his colleague Dražen Prelec. Formated for CROWN by Darko Žubrinić Distributed by www.Croatia.org . This message is intended for Croatian Associations/Institutions and their Friends in Croatia and in the World. The opinions/articles expressed on this list do not reflect personal opinions of the moderator. If the reader of this message is not the intended recipient, please delete or destroy all copies of this communication and please, let us know!
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