A researcher gives you $10 and tells you to split the money with someone else. If the other person rejects your offer, each of you gets nothing.
How much would you keep for yourself and how much would you give the other person?
That’s the type of question Dr. Elena Katok might ask as part of her experiments at the Center and Laboratory for Behavioral Operations and Economics in the Naveen Jindal School of Management.
Katok, Ashbel Smith Professor of Operations Management, is a pioneer in an emerging field called behavioral operations management, which studies how human behavior factors into managerial decisions.
The professor helped establish the Behavioral Operations Management section of the Institute for Operations Research and Management Sciences (INFORMS) and helps organize its Behavioral Research in Operations Management conference, which had its 8th annual conference last week in Ann Arbor, Mich. In 2000, Katok was part of a team that won the Franz Edelman Award presented by INFORMS in 2000.