Discuss “The science of spending”

Carnegie Mellon professor George Lowenstein probably isn’t an all-knowing enemy, but he can certainly tell what you’re going to do next. He also knows whether people are tightwads or spendthrifts before they even spend a dime.

Lowenstein, the Herbert A. Simon professor of economics and psychology in the Department of Social and Decision Sciences, does more than just call names. He also has the power to anticipate spending choices.

Lowenstein and his team, including postdoctoral candidate Scott Rick and graduate student Cynthia Cryder, recently published two papers — “Tightwards and Spendthrifts” and “Neuroeconomics: How Neuroscience Can Inform Economics“ — about how people make purchasing decisions and what they feel when...