Research

Research topic "Behavioral Science"

Better Decision-Making in Markets – Understanding and Improving Decision Processes

A central aspect of the socio-ecological market economy are functioning competitive markets. Two central aspects of competitive markets are perfect information and rational consumers. In reality, however, these prerequisites for competitive markets are often violated. On the one hand, information asymmetry can be observed, i.e., only one party of a transaction has certain information and potentially utilizes this advantages or information scarcity, i.e., information is simply not accessible or available. On the other hand, problems that are too complex, limited cognitive capabilities/capacities, or limited time prevent fully rational choices. Consumers often use heuristics when making decisions which can result in biased decisions. All these aspects can lead to inefficient decisions and inefficient markets, which the state often tries to counteract through regulatory intervention. The effect of these interventions and especially their unintended side effects are often unclear.

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Projects

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2024

How do carbon footprints affect our decisions?

Does information on carbon footprints lead to more sustainable decisions or might this approach even backfire?

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2023

Maybe Compensations

Some consumers are unwilling to pay the price premium for carbon compensations. We test a novel nudge to reduce costs to consumers.

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2023

How much is the (labelled) pig?

Scope of the project is to examine the willingness to pay of consumers for pork marked by the planned german animal husbandry labelling.

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2022

DontWasteMeNow

In this project, we develop an test so-called "social norm nudges" to promote sustainable consumer behavior.

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2022

One Strike and I'm Out

Artificial intelligence and intelligent algorithms are increasingly able to assist or even take over tasks from human decision makers.

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2022

How does Acute Technostress Influence our Decision Making Behavior

Digital technologies are a central part of our daily lives. How important they have become was demonstrated in October 2021 when the ...

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2022

How Do Risk Perception and Past Experience Shape the Future Business Model?

What factors influence the decision to innovate the business model and are there any systematic biases?

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2022

Debiasing Decision-Making in Marketing Management

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2022

Consumer Perception of Brand Purpose and the Effect on Brand Success

While many brands claim a “purpose beyond profit”, it remains unclear which brands consumers perceive to be purpose-driven

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2022

There's Fair and there's Fair – Interaction Between Humans and Machines

Nowadays, offers like price qoutes or settlement offers are quite often made by an algorithm rather than a human. But do humans perceive ...

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2022

Do Anthropomorphic Chatbots Influence our Financial Decision-Making?

Chatbots are supposed to help consumers and give decision support. Their design and behavior becomes more and more human-like.

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2021

Do Consumers Think too Linearly?

Product labels influence purchase decisions and can even steer behavior in a certain direction. Wrongly designed, it doesn't contain the ...

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2020

What the Voice Reveals: Emotions and Sharing of Experiences

Emotional arousal has been linked to the motivation to socially share information with others and can reliably be detected in the voice.

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2019

Confusion in Decision-Making

What is the impact of confusion on performance and quality in decision-making?

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2019

Voice Analytics

Working together with engineers at the University of Augsburg and start-up firm audEERING, the GfK Verein has developed an instrument that detects emotions using the voice.

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2018

Facial Coding and Emotion Detection

Emotions can be captured simply from facial expressions, without distortion from subsequent questioning or distracting wiring.

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2018

Real-Time Emotion Measurement in Consumption Decisions

Emotions play a decisive role in almost all areas of the customer journey. But what is the best way to measure emotions?

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