Ongoing Activities
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Ongoing Activities As part of our mission, CWEC/CFEC organizes professional development sessions and a luncheon at the annual CEA meetings. Every two years, we award the Early Career Research Award and Sylvia Ostry Award. Follow the links in the menu bar on the left for more information. We also:
Dr. Ulrike Malmendier, CWEC/CFEC's IWD Speaker on March 4th 2026 presented Abstract: Behavioral economics has improved the psychological realism of theoretical models and empirical predictions in economics by allowing for biased beliefs, non-standard preferences, and cognitive limitations. Yet, humans are typically still assumed to invariably follow the same (biased or unbiased) model of belief updating and maximize (perfectly or imperfectly) the same set of preferences throughout their lives. I show that, in a wide range of decision-making realms, we obtain significantly better predictions if we account for humans to be shaped by their prior life-time experiences and by stress and emotions. I argue that, in order to move from the idealized homo œconomicus to modeling a true human (homo), economic theory and empirics need to account for both their minds and bodies to be shaped by past lived experience. To do so, I leverage data from a custom survey about inflation expectations, recall, and inflation narratives, combined with retrospective information on features of people's lived inflation experiences (such as their stress level and their perceived control over the effects of inflation) to show how concepts from biology, neuropsychiatry, and medicine offer novel testable implications that can guide our model of human decision-making. |