George Loewenstein
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George Loewenstein

Luxury Brands Return: Chanel, Michael Kors Scoring More 'Aspirational' Shoppers

George Loewenstein, professor of economics and psychology at Carnegie Mellon University, is working on a study with colleague Russell Golman examining how society's image of "the good life" impacts consumer decisions. "Sometimes people are worried that they're poor or appear poor, so ...

Behavorial economics: How your emotions can cost you money ...

By David Futrelle @ Money September 30, 2011: 5:13 PM ET Economist George Loewenstein brings together economics and psychology to study how we make decisions. (MONEY Magazine) -- If you haven't been feeling emotional about money lately, you must have an excellent yoga instructor. There ...

With Personal Loans, Borrowers Hear 'Gift' And Lenders Get Resentful

“We thought that when loans were not paid off that borrowers would feel terrible and avoid lenders,” said paper co-author George Loewenstein, an economics and psychology professor at Carnegie Mellon University, in a call with The Huffington Post. "We found that lenders believed that...

Why you keep playing the lottery

Some study participants were given $1 at a time and asked if they wanted to spend each dollar on a lottery ticket, author George Loewenstein said. Others were given $5 and asked how many tickets they wanted to buy with the money. Members of a third group were told they could either spend ...

Obamacare: Health insurance terms most don't know but should

"Insurance is fundamentally complicated," said George Loewenstein, a professor of economics and psychology at Carnegie Mellon University and a co-author of the study. "I have a Ph.D. in economics and I consult with insurance companies, but there are elements I can't understand, so it ...

How to Budget for Obamacare

The study, led by Carnegie Mellon University professor George Loewenstein, determined that because people do not understand the components of health insurance, they may not make the right plan choices under the ACA. "Insurance plans incorporate all sorts of incentives designed to ...

Obamacare Hurdle: Consumers Flunk Health Insurance 101 : Shots

The federal health law requires that people be given relatively simple information about their policies and choices, says George Loewenstein, the lead researcher of a study looking at insurance knowledge published in the Journal of Health Economics. "But actually presenting people with ...

How to Stimulate Curiosity and Promote Learning

George Loewenstein, a professor of economics and psychology at Carnegie Mellon University, proposed an answer in the classic 1994 paper, “The Psychology of Curiosity.” Curiosity arises, Loewenstein wrote, “when attention becomes focused on a gap in one’s knowledge. Such ...

Create Curiosity To Stay Motivated

George Loewenstein, a professor of economics and psychology at Carnegie Mellon University, proposed an answer in a classic 1994 paper, “The Psychology of Curiosity.” Curiosity arises, Loewenstein wrote, “when attention becomes focused on a gap in one’s knowledge. Such information ...

AOL.com Article Why do lottery players think they can defy odds?

The incredibly remote odds don't really sink in for people, says George Loewenstein, a professor of economics and psychology at Carnegie Mellon University who has researched the motives underlying lottery ticket purchases. "People don't really understand probabilities at all," he says. ...

Your Dumbest Investment Mistakes

Part of the reason is “we feel if we don’t follow the advice and we see the stock goes [higher], we’ll have such regret because we were warned,” says George Loewenstein, professor of economics and psychology at Carnegie Mellon University. “When you don’t follow it, you feel really stupid ...

Time to get on a spending diet

Plus, these cuts don't require you to maintain motivation, notes Carnegie Mellon economics and psychology professor George Loewenstein. Cooking at home when you'd normally order in Chinese requires a sacrifice every time you get the urge. Ditching cable in favor of Hulu Plus or finally ...

3 winning tickets for $448M Powerball jackpot sold in New Jersey, Minnesota

Behavioral economist George Loewenstein, who teaches at Carnegie Mellon University, said people judge things in relative terms. "We compare things," he said. "If there are a lot of jackpots, even though they're all enormous numbers, people are going to start comparing them and if there ...

Carnegie Mellon's George Loewenstein Documents Pitfalls of ...

" New research from Carnegie Mellon University's George Loewenstein and the University of Vienna's Linda Dezso provides evidence of the pitfalls of making or receiving personal loans. Published in the Journal of Economic Psychology, the study is the first to systematically investigate ...

The Color of Money: Friends, loans and consequences

George Loewenstein, a professor of economics and psychology at Carnegie Mellon University, and Linda Dezso from the University of Vienna set out to measure the impact of personal loans on people's feelings. The researchers said their investigation is the first to academically study the ...

Carnegie Mellon's George Loewenstein Documents Pitfalls of Personal Loans

New research from Carnegie Mellon University's George Loewenstein and the University of Vienna's Linda Dezso provides evidence of the pitfalls of making or receiving personal loans. Published in the Journal of Economic Psychology, the study is the first to systematically investigate the ...

Nothing to declare: Researchers find disclosure leads to avoiding conflicts of interest

New research from Carnegie Mellon University's George Loewenstein and Georgetown University's Sunita Sah examines situations in which advisers have the ability to not have any COIs -- such as doctors who can decide whether to meet with and accept gifts from pharmaceutical companies. ...

Carnegie Mellon Researchers Find Physicians Are Biased When Evaluating Medical Conflict of Interest...

New research from Carnegie Mellon University's George Loewenstein and Zachariah Sharek and the University of Pittsburgh's Robert Schoen investigated whether medical professionals making conflict of interest policy decisions are able to separate their policy judgments from their personal...

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