Professional Development Seminar on What makes decisions complex? Implications for industry and public policy


From: Thursday June 27, 2019, 12:30 pm

To: Thursday June 27, 2019, 1:30 pm

What makes decisions complex? Implications for industry and public policy


Current theories of decision-making do not distinguish between the complexity of the decision between a vanilla and a chocolate ice-cream, and the decision between tens or even hundreds of possible superannuation investment options. This is a critical oversight, given the potential costs of poor decisions (and gains of good ones). Linking economics and computer science, offers a framework to quantify complexity of decisions. There have been a number of laboratory experiments testing this framework, to demonstrate how complexity affects decision-making. This approach has important implications for industry and public policy.

About our speaker

Carsten is a Professor in the Department of Finance and co-director of the Brain, Mind & Markets Lab at the University of Melbourne. The lab uses experimental research to address fundamental questions on individual decision-making and markets, with the aim to identify new ways to improve both human and machine decision-making.

The current focus of Carsten's work is on determining in what ways information processing constraints in the brain affect decision-making, how they lead to phenomena such as cognitive biases and in what ways decision-making can be improved.

Prior to joining The University of Melbourne, Carsten was a postdoctoral fellow at the University of Zurich. He has been a visiting researcher at New York University and at Columbia University, New York and has taught at undergraduate and graduate level at The University of Melbourne, the University of Zurich and the Swiss Federal Institute of Technology (ETH) Zurich. He has spent several years in the finance industry. Carsten holds a PhD from the University of Zurich, Switzerland and a Master’s degree from the University of Bayreuth, Germany.


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Victoria University

Lecture theatre 902, 9th floor, 300 Flinders Street, Melbourne VIC 3000

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