Daniel Goldstein

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Daniel G. Goldstein
Born April 21, 1969 (1969-04-21) (age 39)
United States
Residence London, UK
Nationality American
Fields Psychologist
Institutions London Business School 2005-

Columbia University 2002-2005

Max Planck Institute 1995-1999
Alma mater University of Chicago Ph.D, 1997
Doctoral advisor Gerd Gigerenzer
Known for Decision making
heuristics
Notable awards Max Planck Institute Otto Hahn Medal (1997)

Daniel Goldstein (b. April 21, 1969) is an American psychologist known for the specification and testing of heuristics and models of bounded rationality in the field of judgment and decision making.

Contents

[edit] Academic Career

Goldstein's thesis at the University of Chicago used computer simulation to study the accuracy and frugality of satisficing heuristics for making inferences. Investigations of the take-the-best heuristic[1] and the recognition heuristic[2] were later published as journal articles in Psychological Review and in the book Simple Heuristics That Make Us Smart [3]. These fast and frugal heuristics have since had an impact in medicine, law and politics, and other areas outside psychology[4][5] [6] [7].

In 1995, advisor Gerd Gigerenzer and Goldstein left Chicago to start the Center for Adaptive Behavior and Cognition at the Max Planck Institute in Germany. From 2002, Goldstein served 3 years as Associate Director of the Center for the Decision Sciences at Columbia University, where he co-authored with Eric J. Johnson an influential article on organ donation in the journal Science[8] [9] [10].

In his current position at London Business School, Goldstein is investigating perceptions of risk and uncertainty, particularly in financial markets. He and Nassim Taleb are testing people's statistical intuitions when facing ecological, nontextbook uncertainty, and what they call the ludic fallacy[11][12]. Along with Nobel Laureate William F. Sharpe, he has invented a method to measure preferences and beliefs about probabilities called the Distribution Builder[13] [14][15]. In 2008, Goldstein was elected to the Executive Board of the Society for Judgment and Decision Making[16].

[edit] References

  1. ^ Gigerenzer, Gerd; Daniel G. Goldstein (1996). "Reasoning the fast and frugal way: Models of bounded rationality". Psychological Review 103 (4): 650–669. doi:10.1037/0033-295X.103.4.650. 
  2. ^ Goldstein, Daniel G.; Gerd Gigerenzer (2002). "Models of ecological rationality: The recognition heuristic.". Psychological Review 109: 75–90. doi:10.1037/0033-295X.109.1.75. 
  3. ^ Gigerenzer, G., Todd, P. M. & the ABC Research Group (1999). Simple Heuristics That Make Us Smart. New York: Oxford University Press. ISBN 978-0195143812. 
  4. ^ Bower, Bruce (1999-05-29). "Simple Minds, Smart Choices". Science News 155 (22). 
  5. ^ Menand, Louis. "The Unpolitical Animal", The New Yorker, 2004-08-30. 
  6. ^ Kiviat, Barbara. "Why We Buy the Products We Buy", Time Magazine, 2007-08-16. 
  7. ^ Gigerenzer, Gerd; Christoph Engel (2006). Heuristics and the Law. New York: MIT Press. ISBN 978-0-262-07275-5. 
  8. ^ Johnson, Eric J.; Daniel G. Goldstein (2003). "Do defaults save lives?". Science 302: 1338–1339. doi:10.1126/science.1091721. 
  9. ^ Porter, Eduardo. "Choice Is Good. Yes, No or Maybe?", The New York Times, 2005-03-27. Retrieved on 2008-02-27. 
  10. ^ Looking for Sound Financial Advice? Look to Psychology. APA Online; Psychology Matters. American Psychological Association (2004 02-19). Retrieved on 2008-02-27.
  11. ^ Taleb, Nassim Nicholas (2007), The Black Swan: The Impact of the highly improbable, pp. 8 
  12. ^ Goldstein, Daniel G. (2007). "We don't quite know what we are talking about when we talk about volatility" (abstract). Journal of Portfolio Management 33 (4): 84–86. 
  13. ^ Goldstein, Daniel G.; Eric J. Johnson, William F. Sharpe (in press). "Choosing Outcomes Versus Choosing Products: Consumer-Focused Retirement Investment Advice". Journal of Consumer Research. 
  14. ^ Sharpe, William F.; Daniel G. Goldstein, Philip W. Blythe. "The Distribution Builder: A Tool for Inferring Investor Preferences", 2000-10-10. Retrieved on 2008-02-27. 
  15. ^ Distribution Builder Video. Archive.org. Retrieved on 2008-02-27.
  16. ^ Society for Judgment and Decision Making. Retrieved on 2008-02-27.

[edit] Notable contributions

Recognition heuristic
Take-the-best heuristic

[edit] Selected Publications (Listed Chronologically)

  • Gigerenzer, G. & Goldstein, D. G. (1996). Reasoning the fast and frugal way: Models of bounded rationality. Psychological Review, 103, 650-669.
  • Goldstein, D. G. & Gigerenzer, G. (2002). Models of ecological rationality: The recognition heuristic. Psychological Review, 109, 75-90.
  • Johnson, E. J. & Goldstein, D. G. (2003). Do defaults save lives? Science, 302, 1338-1339.
  • Goldstein, D. G., Johnson, E. J. & Sharpe, W. F. (in press). Choosing Outcomes Versus Choosing Products: Consumer-Focused Retirement Investment Advice. Journal of Consumer Research.

[edit] External links