The College of Liberal Arts
Gosnell Lecture Series
Dr. Sudipta Sarangi
Professor & Department Head
Department of Economics
Wednesday, October 4th
Time: 3:00 – 4:00 pm
Place: Eastman Hall, 01-2000
Are More Choices Better and Other Tales About Decision-making
We live in world where there is no dearth of choices in anything from ordering a cup of tea, buying a pair of a pair of jeans to selecting the right retirement portfolio. The idea that more is better stems from a simple mathematical truism, an unconstrained maximum can never be worse than a constrained maximum. Using a set of simple economic experiments, this talk explores the idea of whether giving people more choices actually helps them make better choices. Do gender, education and age play a role in this? Do groups make better decisions than individuals? After all as a part of group individuals may decide to leave the burden of making decisions to the other members of the group. Finally, could we think of designing choice architectures that help people make better decisions?
Interpreters provided upon request subject to availability.
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