Mark Schneider Wins Award for Solo-Authored Paper

UConn School of Business doctoral student Mark Schneider has won the 2014 Decision Analysis Society Student Paper Award for a work he solo authored. His paper is titled, “Frame Dependent Utility Theory” and it presents a model of decisions under risk which is based on emerging evidence from the neuroscience of decision making. The model generalizes expected utility theory by explicitly modeling how choices are framed and how different frames systematically elicit different preferences. A simple preference foundation for the model is provided, and it is demonstrated that the model resolves important empirical violations of rational choice theory. Schneider, a resident of Mansfield, will receive his award at a meeting in San Francisco in November.