The International Association for Research in Economic Psychology, usually abbreviated IAREP, is an interdisciplinary learned society concerned with all areas in which the disciplines of economics and psychology overlap, including behavioural economics, experimental economics and decision making among others. As stated on their mission, [1] IAREP is engaged in the advancement and dissemination of knowledge regarding economic psychology for the benefit of society by connecting people, data and ideas. It was founded in 1982, [2] [3] as a successor to an informal organization, the European Group for Research in Economic Psychology, which first met at Tilburg University (then known as the Katholieke Hogeschool Tilburg) in 1975. [4] IAREP's membership has remained principally European; it works in close collaboration with the Society for the Advancement of Behavioral Economics (SABE), which is centred in North America. [3] The different titles of the two organizations reflect the fact that one was founded mainly by psychologists, the other mostly by economists, but in practice their interests overlap greatly. [5]
IAREP sponsors the Journal of Economic Psychology and elects its Editors. [6] [3] It holds an annual conference, [7] usually though not always in Europe; the conference includes a lecture named in honour of Daniel Kahneman, who inaugurated the series himself at the IAREP/SABE conference in Paris in 2006. [8] Many conferences are held in collaboration with SABE. [9] [10] IAREP conferences have played an acknowledged role as the starting point of several international research collaborations, for example a cross-national investigation of psychological attitudes to the euro before its introduction. [11] They have also served as a reference point in discussing the state of interdisciplinary work between economics and psychology. [9] [12]
Past presidents of IAREP include Werner Güth, Erich Kirchler, David Leiser, Fred van Raaij and Paul Webley. The current president in office for the 2020–2022 term is Professor Gerrit Antonides. [13]
Formally, IAREP is registered in the United Kingdom as a Company Limited by Guarantee. [14]
Herbert Alexander Simon was an American political scientist whose work also influenced the fields of computer science, economics, and cognitive psychology. His primary research interest was decision-making within organizations and he is best known for the theories of "bounded rationality" and "satisficing". He received the Nobel Memorial Prize in Economic Sciences in 1978 and the Turing Award in computer science in 1975. His research was noted for its interdisciplinary nature and spanned across the fields of cognitive science, computer science, public administration, management, and political science. He was at Carnegie Mellon University for most of his career, from 1949 to 2001, where he helped found the Carnegie Mellon School of Computer Science, one of the first such departments in the world.
Bounded rationality is the idea that rationality is limited when individuals make decisions, and under these limitations, rational individuals will select a decision that is satisfactory rather than optimal.
Behavioral economics studies the effects of psychological, cognitive, emotional, cultural and social factors in the decisions of individuals or institutions, and how these decisions deviate from those implied by classical economic theory.
Psychological pricing is a pricing and marketing strategy based on the theory that certain prices have a psychological impact. In this pricing method, retail prices are often expressed as just-below numbers: numbers that are just a little less than a round number, e.g. $19.99 or £2.98. There is evidence that consumers tend to perceive just-below prices as being lower than they actually are, tending to round to the next lowest monetary unit. Thus, prices such as $1.99 may to some degree be associated with spending $1 rather than $2. The theory that drives this is that pricing practices such as this cause greater demand than if consumers were perfectly rational. Psychological pricing is one cause of price points.
In sociology, social distance describes the distance between individuals or social groups in society, including dimensions such as social class, race/ethnicity, gender or sexuality. Members of different groups mix less than members of the same group. It is the measure of nearness or intimacy that an individual or group feels towards another individual or group in a social network or the level of trust one group has for another and the extent of perceived likeness of beliefs.
A Veblen good is a type of luxury good for which the demand increases as the price increases, in apparent contradiction of the law of demand, resulting in an upward-sloping demand curve. The higher prices of Veblen goods may make them desirable as a status symbol in the practices of conspicuous consumption and conspicuous leisure. A product may be a Veblen good because it is a positional good, something few others can own.
Traffic psychology is a discipline of psychology that studies the relationship between psychological processes and the behavior of road users. In general, traffic psychology aims to apply theoretical aspects of psychology in order to improve traffic mobility by helping to develop and apply crash countermeasures, as well as by guiding desired behaviors through education and the motivation of road users.
Donald Thomas Campbell was an American social scientist. He is noted for his work in methodology. He coined the term evolutionary epistemology and developed a selectionist theory of human creativity. A Review of General Psychology survey, published in 2002, ranked Campbell as the 33rd most cited psychologist of the 20th century.
Agneta Marell is professor in Business Administration and since 2010, Deputy vice-chancellor for external relations and innovation at Umeå University in northern Sweden. Between 2004 and 2007, she was the Dean of Umeå School of Business, succeeding Anders Söderholm. In 2008–2011, she was a municipal manager for Örnsköldsvik municipality. She received the assignment as vice rector for collaboration and innovation at Umeå University. As such, she was also chairman of Uminova Holding, the business incubator Uminova Innovation AB and Uminova eXpression AB, which runs Sliperiet at the Umeå Arts Campus.
Paul Webley CBE was director and principal of the School of Oriental and African Studies, University of London from 2006 to 2015. From 2010 until his death in 2016, he was Deputy Vice-Chancellor of the University of London. He was a member of the editorial board of the Journal of Economic Psychology and a former president of the International Association for Research in Economic Psychology.
A web-based experiment or Internet-based experiment is an experiment that is conducted over the Internet. In such experiments, the Internet is either "a medium through which to target larger and more diverse samples with reduced administrative and financial costs" or "a field of social science research in its own right." Psychology and Internet studies are probably the disciplines that have used these experiments most widely, although a range of other disciplines including political science and economics also use web-based experiments. Within psychology most web-based experiments are conducted in the areas of cognitive psychology and social psychology. This form of experimental setup has become increasingly popular because researchers can cheaply collect large amounts of data from a wider range of locations and people. A web-based experiment is a type of online research method. Web based experiments have become significantly more widespread since the COVID-19 pandemic, as researchers have been unable to conduct lab-based experiments.
Martin Reimann is a psychologist and marketing researcher. He is an associate professor of marketing at the Eller College of Management at the University of Arizona.
Tania Singer is a German psychologist and social neuroscientist and the scientific director of the Max Planck Society's Social Neuroscience Lab in Berlin, Germany. Between 2007 and 2010, she became the inaugural chair of social neuroscience and neuroeconomics at the University of Zurich and was the co-director of the Laboratory for Social and Neural Systems Research in Zurich. Her research focuses on the developmental, neuronal, and hormonal mechanisms underlying human social behavior and social emotions such as compassion and empathy. She is founder and principal investigator of the ReSource project, one of the largest longitudinal studies on the effects of mental training on brain plasticity as well as mental and physical health, co-funded by the European Research Council. She also collaborates with the macro-economist Dennis Snower on research on caring economics. Singer's Caring Economics: Conversations on Altruism and Compassion, Between Scientists, Economists, and the Dalai Lama was published in 2015. She is the daughter of the neuroscientist Wolf Singer.
Alphonsius Josephus Rachel (Fons) van de Vijver was a Dutch psychologist and Professor of Cross-cultural Psychology at Tilburg University, North-West University, University of Queensland, and National Research University Higher School of Economics. He was known for his work on cross-cultural research and on methods of comparisons.
Erich Kirchler is an Italian-Austrian psychologist and Professor of Economic Psychology at the University of Vienna.
Clive L. Spash is an ecological economist. He currently holds the Chair of Public Policy and Governance at Vienna University of Economics and Business, appointed in 2010. He is also Editor-in-Chief of the academic journal Environmental Values.
Louis Lévy-Garboua is a French economist whose work focuses on behavioral economics and microeconomics. He is a distinguished professor at the University of Paris 1 Pantheon-Sorbonne and at the Paris School of Economics.
The gift-exchange game, also commonly known as the gift exchange dilemma, is a common economic game introduced by George Akerlof and Janet Yellen to model reciprocacy in labor relations. The gift-exchange game simulates a labor-management relationship execution problem in the principal-agent problem in labor economics. The simplest form of the game involves two players – an employee and an employer. The employer first decides whether they should award a higher salary to the employee. The employee then decides whether to reciprocate with a higher level of effort due to the salary increase or not. Like trust games, gift-exchange games are used to study reciprocity for human subject research in social psychology and economics. If the employer pays extra salary and the employee puts in extra effort, then both players are better off than otherwise. The relationship between an investor and an investee has been investigated as the same type of a game.
Willem Frederik (Fred) van Raaij is a Dutch psychologist and professor.
Amnon Rapoport (1936-2022) was an Israeli-born quantitative psychologist who was the Eller Professor Emeritus of Management and Organizations at the Eller College of Management at the University of Arizona. His research focused on experimental studies of interactive decision-making behavior. He died on December 6, 2022 after more than six decades of academic teaching, research, and service.