Erik WengströmProfessor, PhD
Research areas and keywords
UKÄ subject classification
My current research is primarily behavioral and experimental in nature. A large part of my research activity is devoted to understanding how people make decisions involving risk. I have investigated how risk taking depends on compensation packages such as bonus payments; how risk-taking changes when it is done on behalf of someone else; how risk taking is related to socio-economic variables and cognitive ability. My research also covers a wide range of other topics related to decision making including attention, cooperation, social capital and social norms. Methodologically, I have been at the forefront of using the internet to do economic experiments with large and representative samples of the population.
My main areas of teaching are microeconomics, behavioral economics, decision making and economic evaluation methods. My teaching portfolio is quite interdisciplinary and I frequently give courses and guest lectures at other department and faculties. A large part of my teaching is currently devoted to PhD supervision.
The aim of most of my teaching is to get students to learn how to make better decisions. I strive to make students understand some of the underlying principles behind decision making and in particular how people’s motivation is shaped by the interaction of incentives, the choice environment and psychology. I believe in activating students and creating an open learning environment that promotes discussion and reflection.
My main teaching activities over the last years have focused on:
Financial and Economic Decision Making – I teach a master level course on this topic for Economics students as well as students enrolled in a Master programme in Industrial Engineering and Management.
Master in Management – I teach a course module on decision making which is part of the course “Understanding management.”
The Economics of Risk Management - I teach a course module on cost-benefit analysis with application to risk management to students on a Master programme in Risk Management.