Points | Research Profile Peter Andre
This profile is originally from the magazine Points that can be downloaded here.
Exploring the depths of behavioral economics
His passion for understanding the intricate ways in which individuals navigate economic decisions influences Peter Andre’s work as he explores people’s economic expectations, perceptions, and fairness views
Peter Andre’s academic journey began in Bonn, where he pursued both his master’s degree and his Ph.D., followed by a postdoctoral position at the former Institute on Behavior & Inequality (briq). Reflecting on his early fascination with economics, he shares, “I was always very excited by the idea of understanding something in depth, even as a child.”
Despite initially considering various topics, he was drawn to economics for its social relevance and complexity. His fascination with understanding these issues, such as climate change and its impacts, or inequality ultimately led him to specialize in the field. “I gravitated towards economics because I am interested in the social aspect of it and its relevance to society,” Peter explains.
In academia, finding a good home can be a challenge. For him, SAFE is just such a place: “Here, I can focus on topics I love and have time for research. I also greatly value the opportunity to reach out to policymakers and journalists.” These are just a few reasons why he decided to join the Institute as soon as he got the chance.
Making a difference in society
His research journey has since been all about chasing knowledge and making a difference in society. “Research is most productive and most challenging when you ask yourself a question for which you don’t know the answer,” he remarks. Even though research can be quite a tough position to work in, Andre enjoys those occasional moments that really boost his excitement and motivation. “Every now and then you have these small breakthroughs where you realize you understood a bit more,” he shares.
Peter’s work in behavioral economics is characterized by its applied nature, a departure from the more foundational approach common in the field. By engaging with macroeconomics and exploring the intersection between psychology and economics, he offers fresh insights into how individuals perceive and interact with the world around them. “Most of the papers that I write are very applied,” he explains.
“We need to understand how people make sense of financial markets”
Currently, one of his research projects focuses on understanding how different groups of investors perceive and interpret the stock market. “The starting point for this project is the observation that if we want to understand financial markets and how people act on financial markets, we also need to understand how they make sense of financial markets." Thus,Peter aims to shed light on the factors that influence market dynamics and individual behavior.
Outside of academia, he seeks peace in nature, frequently going on extended hikes to disconnect and recharge his mind. “Nature is the perfect antidote to research,” Peter remarks. “Instead of thinking, you don’t have to think at all.” Also, to relax from research, he finds great joy in traveling: “There are two things that motivate me to travel. One is to understand others’ perspectives on life – but that’s difficult. You need to actually live and work somewhere to dive into that deeply enough. The other motivation is just to see nature and leave cities.”
Peter Andre is Assistant Professor of Behavioral Finance at SAFE.
