Daniel Wall is a first year PhD student in the Cognitive Psychology program in New Brunswick, where he works with Pernille Hemmer and Gretchen Chapman, and the Marketing program in Newark where he works with Ashwani Monga. His research looks at how people make decisions about time in both consumer and medical contexts, with the goal of improving people’s decision making.
Current research projects.
- For whom to frame the future first.
The accelerate vs delay effect in intertemporal choice is when people are given a more patient default they are less likely to choose the myopic option. We find that how people acquire data determines the extent of this effect. We are currently investigating if manipulating peoples acquisitions leads to them making different choices.
- Surrogates in Intertemporal Choice
A substantial portion of intertemporal choices are made by an agent acting on behalf of someone else, for example financial advisors picking stocks, or doctors deciding or which treatment to give a patient. We are investigating how people perceive other’s intertemporal choices, the mediating effects of expertise on making intertemporal choices for others, and how well people can tell an agent to make an intertemporal choice for them.
- How should you frame time for me.
Numerous studies show that small changes in a problem can have large effects on how much a person discounts the future. This study investigates if people can choose an environment which allows them to be more patient and if so do they prefer that choice environment compared to other choice environments. This has implications for how credit card rates can be translated and presented to customers.