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SFB glossary

In the Sonderforschungsbereich 504, researchers from different disciplines (social psychology, economics, and business administration) work together. The research program comprises the theoretical foundation, empirical analysis and economic application of behavior which cannot be described by standard expected utility theory. It is the purpose of this glossary to establish a common core of scientific concepts that are used in our research. These concepts might not be common to all disciplines, but we hope that the glossary forms a basis for communication between the different disciplines and projects involved in the SFB 504.

Research areas and basic concepts:
Social cognition and social judgement
Decision making
Behavior
Basic concepts of economics

Methods:
Econometrics and statistics
Experiments
Game theory

Applications:
Savings decisions over the life cycle
Financial markets and behavioral finance
Behavior in organizations
Auctions

Alphabetical list of entries

Acknowledgements

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Research areas and basic concepts

Social cognition and social judgement:
Abstractness Accessibility Anchoring and adjustment Attitude Automaticity Availability Availability heuristic Base-rate fallacy Bayes theorem Category split effect Centrality of typicality Cognition Cognitive dissonance Debiasing strategies Frame Framing effect Heuristic Hindsight bias Information processing Lift Logic of conversation Natural sampling Organization studies: cognitive Personality Personality psychology Problem representation Prospect theory Prototype Reflection effect Representation Representativeness heuristic Retention of central tendencies Schema Script Social cognition Simpson paradox Weighted attributes

Decision making:
Abstractness Allais paradox Ambiguity Automaticity Base-rate fallacy Bayes theorem Behavioral economics Belief Bounded rationality Category split effect Certainty effect Cognitive dissonance theory Decision strategies Elimination by aspects Equal weight strategy Expected utility Frame Framing effect Habit Heuristic Information Intertemporal decision making Lexicographic strategy Lift Natural sampling Organizational learning Preferences Problem representation Prototype Rate of time preference Rationalbehavior Reference point Reflection effect Representation Retirement decisions Risk Risk attitude Risk aversion Satisficing strategy Standard operating procedures Strategy Uncertainty Utility Von Neuman-Morgenstern utility Weighted attributes

Behavior:
Automaticity Behavioral economics Behavioral finance Bounded rationality Institutionalism Organizational learning Organization studies: behavioral Overconfidence Rational behavior Standard operating procedures

Basic concepts of economics:
Allais paradox Allocation Arbitrage Behavioral economics Bounded rationality Competitive market equilibrium Consumption Consumer demand Consumer surplus Econometrics Efficiency Efficient capital markets Equilibrium Expected utility Externality Incentive compatability Income Intertemporal decision making Markets Microeconomics Pareto efficiency Preferences Prices Rate of time preference Rational behavior Rents Strategic equilibrium Uncertainty Utility Von Neuman-Morgenstern utility

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Methods

Econometrics and statistics:
Econometrics Identification Selection problem

Experiments:
Between subjects design Confounding variables Control variable Control group Dependent variable Experiment Experimental design Experimental group Hypothesis Independent variable Mediator variable Moderator variable Objectivity Random variables Reliability Validity Within subjects design

Game theory:
Bayes theorem Bayes-Nash equilibrium Belief Cooperative game Dominant strategy Externality Game theory Incentive compatability Information rents Mixed strategy Nash equilibrium Non-cooperative game Information Information rents Perfect Bayesian Nash equilibrium Refinement Revelation mechanism Revelation principle Sequential equilibrium Strategy Strategic equilibrium Subgame perfect equilibrium Type (of players)

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Applications

Savings decisions over the life cycle:
Consumption Consumer demand Household behavior Income Intertemporal decision making Life-cycle hypothesis Microeconomics Retirement decisions Saving

Financial markets and behavioral finance:
Arbitrage Behavioral finance Covered short call Collar strategy Efficient capital markets Excess chance measures Options and hedging Put option Shortfall risk measures Target return

Behavior in organizations:
Automaticity Frame Institutionalism Liability of newness Obsolescence Organizational learning Organization studies: behavioral Organization studies: cognitive Problem representation Representation Script Standard operating procedures

Auctions:
Auction First-price auction Procurement auction Revenue equivalence Second-price auction

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August 1, 1997 last revised June 17, 1999
Direct questions and comments to: Glossary master
Currently, the glossary master is Joachim Winter