Shane Frederick
Encyclopedia
Shane Frederick is an associate professor at Yale University
's School of Management. He earlier worked at Massachusetts Institute of Technology
. He is the creator of the "Cognitive Reflection Test", or CRT, a form of intelligence test that tests how "rational" testees are. People who score high are less vulnerable to various biases in thinking including prospect theory
and irrational intertemporal choice
s.
He is considered an authority on decision-making and intertemporal choice
, time preference
s and discount functions, and has authored papers with, among others, George Loewenstein
of Carnegie Mellon University
and Nobel laureate Daniel Kahneman
, emeritus of Princeton University
.
Shane Frederick was born in Park Falls, Wisconsin
, and graduated from the University of Wisconsin with a B.A. in Zoology, from Simon Fraser University
with an M.S. in Resource Management, and from Carnegie Mellon University
with a Ph.D. in Decision Sciences.
Yale University
Yale University is a private, Ivy League university located in New Haven, Connecticut, United States. Founded in 1701 in the Colony of Connecticut, the university is the third-oldest institution of higher education in the United States...
's School of Management. He earlier worked at Massachusetts Institute of Technology
Massachusetts Institute of Technology
The Massachusetts Institute of Technology is a private research university located in Cambridge, Massachusetts. MIT has five schools and one college, containing a total of 32 academic departments, with a strong emphasis on scientific and technological education and research.Founded in 1861 in...
. He is the creator of the "Cognitive Reflection Test", or CRT, a form of intelligence test that tests how "rational" testees are. People who score high are less vulnerable to various biases in thinking including prospect theory
Prospect theory
Prospect theory is a theory that describes decisions between alternatives that involve risk i.e. where the probabilities of outcomes are known. The model is descriptive: it tries to model real-life choices, rather than optimal decisions.-Model:...
and irrational intertemporal choice
Intertemporal choice
Intertemporal choice is the study of the relative value people assign to two or more payoffs at different points in time. Most choices require decision-makers to trade-off costs and benefits at different points in time. These decisions maybe about savings, work effort, education, nutrition,...
s.
He is considered an authority on decision-making and intertemporal choice
Intertemporal choice
Intertemporal choice is the study of the relative value people assign to two or more payoffs at different points in time. Most choices require decision-makers to trade-off costs and benefits at different points in time. These decisions maybe about savings, work effort, education, nutrition,...
, time preference
Time preference
In economics, time preference pertains to how large a premium a consumer places on enjoyment nearer in time over more remote enjoyment....
s and discount functions, and has authored papers with, among others, George Loewenstein
George Loewenstein
George Loewenstein is the Herbert A. Simon Professor of Economics and Psychology in the Social and Decision Sciences Department at Carnegie Mellon University and director of the Center for Behavioral Decision Research. He is a leader in the fields of behavioural economics and...
of Carnegie Mellon University
Carnegie Mellon University
Carnegie Mellon University is a private research university in Pittsburgh, Pennsylvania, United States....
and Nobel laureate Daniel Kahneman
Daniel Kahneman
Daniel Kahneman is an Israeli-American psychologist and Nobel laureate. He is notable for his work on the psychology of judgment and decision-making, behavioral economics and hedonic psychology....
, emeritus of Princeton University
Princeton University
Princeton University is a private research university located in Princeton, New Jersey, United States. The school is one of the eight universities of the Ivy League, and is one of the nine Colonial Colleges founded before the American Revolution....
.
Shane Frederick was born in Park Falls, Wisconsin
Park Falls, Wisconsin
Park Falls is a city in Price County, Wisconsin, United States. The population was 2,793 at the 2000 census. Located in the woods of north central Wisconsin, primarily the Chequamegon National Forest, Park Falls is a small community divided by the North Fork of the Flambeau River, a popular...
, and graduated from the University of Wisconsin with a B.A. in Zoology, from Simon Fraser University
Simon Fraser University
Simon Fraser University is a Canadian public research university in British Columbia with its main campus on Burnaby Mountain in Burnaby, and satellite campuses in Vancouver and Surrey. The main campus in Burnaby, located from downtown Vancouver, was established in 1965 and has more than 34,000...
with an M.S. in Resource Management, and from Carnegie Mellon University
Carnegie Mellon University
Carnegie Mellon University is a private research university in Pittsburgh, Pennsylvania, United States....
with a Ph.D. in Decision Sciences.
Selected publications
- Representativeness revisited: Attribute substitution in intuitive judgment (with D. Kahneman)
- Time discounting and time preference: a critical review (with T. O'Donoghue)