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Richard GonzalezRichard Gonzalez

Center Director, Research Center for Group Dynamics, Institute for Social Research
Co-Director, BioSocial Methods Collaborative
Amos N Tversky Collegiate Professor, Psychology and Statistics, LSA
Professor of Integrative Systems and Design, College of Engineering


E-mail: Email Richard Gonzalez
Address: Research Center for Group Dynamics
Institute for Social Research
University of Michigan
426 Thompson Street
Ann Arbor, Michigan 48106
Phone: 734-647-6785

Decision Making

Testing prospect theory’s predictive accuracy

We test original and cumulative prospect theories for their ability to predict out-of-sample cash equivalences of three outcome gambles when estimated (trained) on two outcome gambles. The results are surprising in that both theories are systematically off but in different ways suggesting opportunity for additional theory development.

When emotions are both positive and negative

We propose a new measure for assessing mixed emotions over daily activities in older adults. The Activity Affective Complexity score is demonstrated in a subsample of older adults from the Health and Retirement Survey.

When words speak louder than actions

The behavior of others serves an important cue in our decision making, but we show cases where sometimes we are more influenced by an individual’s evaluation than their actions, suggesting that at times words can speak louder than actions.

Reviewing the endowment-contrast model of happiness and well-being

If we have an amazing experience, such as an excellent meal or a the dream vacation, when does it become part of our endowment (i.e., another positive tick mark that we accumulate)or a source of comparison against which other relevant experiences are judged  and contrasted? In the former case, the experience makes us happier, but in the latter case it can diminish our ability to enjoy future events.