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Martin Hedesström
Senior Lecturer
Department of PsychologyAbout Martin Hedesström
Biography
PhD in Psychology, University of Gothenburg 2006. Docent (Assoc. Prof.) 2014. MSc in Information Systems, London School of Economics and Political Science 1998. Visiting Scholar at the Centre for Decision Sciences, Columbia Business School, New York 2014/15.
Co-Director of the research group Judgement, Decision Making and Social Psychology (JDMS).
Teaching
I am Course Director for the undergraduate course Judgment and decision making (PX1110), and for the postgraduate course Psychological perspectives on economic behaviour (PC2115). I also teach social cognition and attribution.
Research interests
Choice architecture (”nudging”); moral/environmental decision making; stock market psychology
My research is predominantly experimental and often concern topics at the intersection between psychology and economy, for example, stock market investment decisions. I also investigate moral aspects of decision making. How do people make tradeoffs between choices that benefit them personally versus choices that benefit society but come with a cost?
Current research
Downstream behavioural effects of choice architecture interventions, a project funded by the Marcus and Amalia Wallenberg Foundation:
Most of today’s environmental, financial, and health problems are rooted in our day-to-day choices. Drawing on insights from psychology, the emerging science of choice architecture (CA) prescribes how presentation formats could be tailored in ways that help people choose options that are beneficial to society as well as to themselves, without restricting their freedom of choice. CA interventions—also called “nudges”—have proven effective in increasing pension saving rates, improving medical prescription adherence, and reducing CO2 emissions and tax fraud. Yet, previous CA research has focused exclusively on the specific choice targeted by the CA intervention. This constitutes a significant caveat, since assessing the net benefit of a CA intervention requires taking into account not only its effect on a first choice, but also how this “nudged” choice spills over to subsequent choices in the same and other domains. Knowing downstream consequences of nudged behaviour is essential in order to design CA interventions in ways that promotes positive behavioural spillover and averts backfiring. This project, which I lead, aims to contribute towards finding new ways of promoting the sustained, long-term behavioural changes required in order to meet societal challenges such as climate change and health.
Communicative buildings for decreased energy consumption, a project financed by the Swedish Energy Agency (Energimyndigheten)
The project’s aim is to combine behavioural research with modern technology on digital platforms and artificial intelligence (AI) in order to explore effects of nudging on energy consumption within the construction sector. The project is a collaboration between Tornet Fastighetsutveckling AB, RISE Research Institutes of Sweden AB, ÅF Digital Solutions AB (AFRY) and the department of Psychology, University of Gothenburg.
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Experiencing default nudges: autonomy, manipulation, and choice-satisfaction as judged by people
themselves
Patrik Michaelsen, Lars-Olof Johansson, Martin Hedesström
Behavioural Public Policy - 2024 -
Nudging green food: The effects of a hedonic cue, menu position, a warm-glow cue, and a descriptive
norm
Tommy Reinholdsson, Martin Hedesström, E. Ejelov, André Hansla, Magnus Bergquist, A. Svenfelt, Andreas Nilsson
Journal of Consumer Behaviour - 2023 -
Downstream consequences of disclosing defaults: influences on perceptions of choice architects and subsequent
behavior
Patrik Michaelsen, Lina Nyström, Timothy Luke, Martin Hedesström
Comprehensive Results in Social Psychology - 2021 -
Downstream consequences of disclosing nudges: How increased transparency affects the effectiveness and perceptions of
interventions
Patrik Michaelsen, Lina Nyström, Timothy Luke, Lars-Olof Johansson, Martin Hedesström
40th Annual Conference of the Society for Judgment and Decision Making. Montreal: 15-18 November. - 2019 -
Increasing transparency may improve net effects of default
nudges
Lina Nyström, Patrik Michaelsen, Timothy Luke, Martin Hedesström
40th Annual Conference of the Society for Judgment and Decision Making. Montreal: 15-18 November 2019. - 2019 -
A demonstration of positive nudge-induced behavioral
spillover
Martin Hedesström, Patrik Michaelsen, Lina Nyström, Timothy Luke, Lars-Olof Johansson
40th Annual Conference of the Society for Judgment and Decision Making. Montreal: 15-18 November 2019. - 2019 -
Influencing behavioral spillover from nudges through
feedback
Patrik Michaelsen, Magnus Bergquist, Andreas Nilsson, Lars-Olof Johansson, P. Wesley Schultz, Martin Hedesström
39th Annual Conference of the Society for Judgment and Decision Making. New Orleans: 16-19 November 2018. - 2018 -
An experimental study of influences of performance-related payments on
timing of delegated stock
purchases
Tommy Gärling, Maria Andersson, Martin Hedesström, Anders Biel
Journal of Behavioral Finance - 2017 -
Experiencing Nudges: Choice Autonomy, Situational Intrusion and Choice Satisfaction as Judged by People
Themselves
Patrik Michaelsen, Lars-Olof Johansson, Martin Hedesström
38th Annual Conference of the Society for Judgment and Decision Making. Vancouver: 10-13 November 2017. - 2017 -
Environmental, Autonomous and Satisfied: Experimental Evidence for Positive Experiences of Green
Nudges
Patrik Michaelsen, Lars-Olof Johansson, Martin Hedesström
32nd annual meeting of the Swedish Area Group in Environmental Psychology (SAGEP). Uppsala: 6-7 November - 2017 -
Behaviour in financial
markets
Martin Hedesström
Economic psychology / Rob Ranyard (red.) - 2017 -
What’s the net benefit of a nudge? Exploring behavioral spillover from choosing a
default
Martin Hedesström, Lars-Olof Johansson
Proceedings of the 37th Annual Conference of the Society for Judgment and Decision Making. November 18 – 21. Boston. - 2016 -
Behavioral spillover effects of default
choice
Martin Hedesström, Lars-Olof Johansson
Proceeding of 31st International Congress of Psychology, Yokohama, Japan - 2016 -
Effects of bonuses on diversification in delegated stock portfolio
management
Martin Hedesström, Maria Andersson, Tommy Gärling, Anders Biel
Journal of Behavioral and Experimental Finance - 2015 -
A Social-Psychological Perspective on Herding in Stock
Markets
Maria Andersson, Martin Hedesström, Tommy Gärling
The Journal of Behavioral Finance - 2014 -
Effects of partitioning on tradeoff effort and
choice
Martin Hedesström, Lars-Olof Johansson
Proceedings of the 34th Annual Conference of the Society for Judgment and Decision Making - 2014 -
Stock investors' preference for short-term vs. long-term
bonuses
Martin Hedesström, Maria Andersson, Tommy Gärling, Anders Biel
Journal of Socio-Economics - 2012 -
Psykologi och
aktiemarknaden
Martin Hedesström
Samhällspsykologi / Anders Biel & Tommy Gärling (red.) - 2012 -
Effects of stock investments of information about short versus long price
series
Maria Andersson, Tommy Gärling, Martin Hedesström, Anders Biel
Review of behavioral finance - 2012 -
Hållbara
bonussystem
Maria Andersson, Tommy Gärling, Martin Hedesström, Anders Biel
Hållbar utveckling - från risk till värde / L. G. Hassel, L.-O. Larsson & E. Nore (red.) - 2011 -
Framtidsanalyser av
miljöprestanda
Martin Hedesström, Ulrika Lundqvist, Anders Biel
Hållbar utveckling - från risk till värde / L. G. Hassel, L.-O. Larsson & E. Nore (red.) - 2011 -
Investigating consistency of judgement across sustainability
analysts
Martin Hedesström, Ulrika Lundqvist, Anders Biel
Sustainable Development - 2011 -
Stock investors' preferences for short-term versus long-term
bonuses
Martin Hedesström, Maria Andersson, Tommy Gärling, Anders Biel
Journal of Socio-Economics - 2011 -
Naïve diversification in the Swedish premium pension scheme: Experimental
evidence
Martin Hedesström, Henrik Svedsäter, Tommy Gärling
Applied Psychology: An International Review - 2009 -
Social influence on predictions of simulated stock
prices
Maria Andersson, Martin Hedesström, Tommy Gärling
Journal of Behavioral Decision Making - 2009 -
The Heterogeneity of Socially Responsible
Investment
Joakim Sandberg, Carmen Juravle, Martin Hedesström, Ian Hamilton
Journal of Business Ethics - 2009 -
Effects of consistency and accurate predictions of stock prices on herding in a simulated financial
market.
Maria Andersson, Martin Hedesström, Tommy Gärling
Poster presented at the 29th annual conference of the Society for Judgment and Decision Making, Chicago, USA. - 2008 -
Effects of financial incentives on herding in simulated financial
markets
Maria Andersson, Martin Hedesström, Tommy Gärling
Paper presented at the International Association for Research in Economic Psychology (IAREP), Rome, Italy. - 2008 -
The effect of accuracy and focus on herding in financial
predictions.
Maria Andersson, Martin Hedesström, Tommy Gärling
Paper presented at the 10th meeting of the European Social Cognition Network (ESCON), Volterra, Italy. - 2008 -
Experimental Studies of Majority Influences in Financial
Markets.
Maria Andersson, Martin Hedesström, Tommy Gärling
Paper presented at the 6th Nordic conference on group and social psychology (GRASP), Lund University, Sweden - 2008 -
Fooled by randomness: Irrational herding in a simulated financial
market.
Tommy Gärling, Maria Andersson, Martin Hedesström
Paper presented at the Nordic conference on behavioral and experimental economics, University of Gothenburg, Göteborg, Sweden. - 2008 -
Konsumtionsrapporten - konsumtionen
2005
Ulrika Holmberg, Helene Brembeck, Martin Hedesström, Annika Bergström, Helena Shanahan, Cecilia Jakobsson
2007 -
Determinants of the use of heuristic choice rules in the Swedish premium pension scheme: An internet-based
survey
Martin Hedesström, Henrik Svedsäter, Tommy Gärling
Journal of Economic Psychology - 2007 -
Investigating consistency of judgement among SRI analyst
organisations.
Martin Hedesström, U Lundquist, Anders Biel
Paper presented at the 32nd IAREP Conference, Ljubljana, Slovenia. - 2007 -
Effects of consistency on herding in a simulated financial
market
M Andersson, Martin Hedesström, Tommy Gärling
Paper presented at the 21th research conference on subjective probability, utility and decision making(SPUDM21), Warsaw, Poland - 2007 -
The psychology of diversification: Novice investors´ability to spread
risks
Martin Hedesström
2006 -
Covariation neglect among novice
investors.
Tommy Gärling, Martin Hedesström, Henrik Svedsäter
In T. Tyszka (Convener), Behavioral finance. Symposium conducted at the 26th International Congress of Applied Psychology (ICAP) (Athens, Greece). - 2006 -
Covariation neglect among novice
investors
Martin Hedesström, Henrik Svedsäter, Tommy Gärling
Journal of Experimental Psychology: Applied - 2006 -
Determinants of use of heuristic choice rules in the Swedish premium pension scheme: An internet-based
survey
Martin Hedesström, Henrik Svedsäter, Tommy Gärling
Paper presented at the European Association of Consumer Research Conference, Göteborg University, Sweden - 2005 -
Naïve diversification in investment
decisions
Martin Hedesström, Henrik Svedsäter, Tommy Gärling
Paper presented at the 20th research conference on subjective probability, utility and decision making (SPUDM20), Stockholm, Sweden - 2005 -
Identifying heuristic choice rules in the Swedish premium pension
scheme
Tommy Gärling, Martin Hedesström, Henrik Svedsäter
Paper presented in the workshop “Research on the new premium pension system”, Stockholm Institute for Financial Research, Stockholm School of Economics, Stockholm. - 2004 -
Determinants of heuristic choices in the Swedish premium pension scheme: An internet-based
survey
Martin Hedesström, Henrik Svedsäter, Tommy Gärling
Poster presented at the 28th international congress of psychology, Beijing, China - 2004 -
Identifying heuristic choice rules in the Swedish premium pension
scheme
Martin Hedesström, Henrik Svedsäter, Tommy Gärling
Journal of Behavioral Finance - 2004 -
Psychological factors affecting citizens´investment choices in the Swedish premium pension
scheme
Martin Hedesström
2004