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Brain, Mind & Markets Laboratory

What makes a decision complex?

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We investigate complex decision-making, at the level of brain, mind and markets

RESEARCH THEMES

BMMLAB logo Complexity Learning Markets

RESEARCH TRAINING

PHD student at graduation ceremony

We offer research training through the inter-disciplinary doctoral program in decision-making (Decision, Risk and Financial Sciences). The program includes two years of coursework in economic and finance theory, psychology, neuroscience and computer science, followed by three years of doctoral research.

More information is available on the program website.

Applications are accepted all year round.

TAKE PART

Scanner MBI from control room

You can take part in our experiments. We are always looking for participants.

Most of our experiments take place on the University of Melbourne Parkville campus. An experiment typically lasts between one and three hours. Participants are compensated for their time.

Click here to find out which experiments we are currently recruiting for and what's involved in participating.

NEWS

  • Congratulations again to Nitin Yadav!

    The BMMLAB is delighted to announce Nitin Yadav's special commendation in the annual Dean's Award for Exceptional Distinction in Research (Engagement and Partnerships)!

    29 Nov 2019 News
  • BMMLAB at ACNS 2019

    BMMLAB neuroscience research at the 2019 Australasian Cognitive Neuroscience Society Conference in Launceston this November!

    29 Nov 2019 News
  • BMMLAB at FIRN 2019

    Peter Bossaerts and Felix Fattinger presented some of BMMLAB's research into asset pricing at the 9th annual FIRN conference in Byron Bay in November.

    29 Nov 2019 News
  • Congratulations to Nitin Yadav!

    The BMMLAB is delighted to announce Nitin Yadav's promotion to Senior Lecturer in Computational Finance!

    22 Nov 2019 News
  • The Science of Markets - AFR

    The science that shows it's hard to beat the market.BMMLAB's co-head Peter Bossaerts featured in the Australian Financial Review.

    30 Oct 2019 News
  • Society for Neuroscience 2019

    Research highlights from BMMLAB's Elizabeth Bowman and Jeremy Metha will be presented at two nanosymposia at the Neuroscience 2019 meeting in Chicago (October 19 to 23).

    22 Oct 2019 News
  • Digital playground for Foundations of Fintech

    Felix Fattinger will showcase how support from the Williams Centre for Learning Advancement has enabled BMMLAB to develop state-of-the-art technologies to deliver our new Foundations of Fintech subject.

    17 Sep 2019 News
  • Investment Innovation Institute luncheons 2019

    Carsten Murawski is a guest of the Investment Innovation Institute this week, presenting on decision making for complex problems at events in Melbourne and Sydney on September 10 and 11.

    10 Sep 2019 News
  • The Future of Banking – Meeting Consumer Needs

    Carsten Murawski is part of an expert panel on Wednesday 28 August to discuss the critical questions of what customers actually want from their bank, if banks are actually delivering these services and how are they prepared to meet the needs of Australian consumers in the future.

    28 Aug 2019 News
  • Improving the finance sector for all Australians

    Carsten Murawski has co-authored a white paper calling for urgent action to address current and future financial challenges and to improve outcomes for all Australians.

    19 Aug 2019 News
  • FinTech students must crack code - The Australian

    Carsten Murawski has emphasised the importance of financial technologies (or "FinTech") to the training and education of future finance graduates in a new article in The Australian newspaper.

    09 Jul 2019 News
  • BMMLAB on tour: ESAM 2019 Perth

    Various members of the lab will be presenting our work on computational complexity, decision-making and asset pricing at the Econometric Society Asia-Pacific Meeting 2019 in Perth on 1-3 July 2019.

    23 Jun 2019 News
  • Congratulations to Felix Fattinger for Best Asset Pricing Paper at WFAM!

    Felix Fattinger has been awarded the NASDAQ Prize for best paper on asset pricing at the 2019 Western Finance Association Meeting, for his paper titled "Trading Complex Risks".

    20 Jun 2019 News
  • BMMLAB research showcased at Society for Experimental Finance Meeting 2019

    Peter Bossaerts, Nitin Yadav, and Felix Fattinger presented BMMLAB research at a number of well received presentations at the 10th annual meeting of the Society for Experimental Finance in Copenhagen from June 13 to 15.

    18 Jun 2019 News
  • Barcelona GSE Summer Forum - Computational and Experimental Economics Workshop

    Peter Bossaerts presented "Asset pricing under computational complexity" at the Barcelona GSE Summer Forum Computational and Experimental Economics Workshop in Barcelona on June 11.

    18 Jun 2019 News
  • Experiments in Corporate and Entrepreneurial Finance Workshop - Lyon

    Peter Bossaerts has given the keynote address "Asset pricing under computational complexity" at the Experiments in Corporate and Entrepreneurial Finance workshop on Lyon on June 7.

    18 Jun 2019 News
  • What makes decisions complex? ESA professional development seminar

    Carsten Murawski will be presenting a professional development seminar for the Economic Society of Australia on 'What makes decisions complex? Implications for industry and public policy'

    17 Jun 2019 News
  • BMMLAB welcomes Shinsuke Suzuki!

    Shinsuke Suzuki has joined the BMMLAB team as our new Associate Professor of Decision Neuroscience.

    17 Jun 2019 News
  • Financial literacy is the new black

    Carsten Murawski joined Corinne Proske, Jan West and Lynne Williams  to discuss the importance of financial literacy and what people can do to get control of their finances at a practical level

    13 Jun 2019 News
  • Communication, Code and Conventions Workshop

    BMMLAB hosted a workshop for our 2019 Honours students on Friday 24 May, bringing everyone up to speed on our coding conventions and how we deal with data.

    24 May 2019 News
  • The Human Factor in Economics: From Adam Smith to Artificial Intelligence

    Peter Bossaerts and Nobel Laureate Vernon L. Smith will present a public symposium at Durham University on 5 June.

    14 May 2019 News
  • A computational and neural model for mood dynamics - BMMLAB Guest Seminar

    BMMLAB presents a Special Guest Seminar by Dr Robb Rutledge (UCL) at 1pm on Monday 13 May.

    08 May 2019 News
  • New undergraduate subject on fintech

    We will be offering a new third-year undergraduate subject on fintech (finance and technology) in Semester 2, 2019

    08 Apr 2019 News
  • PhD applications close soon

    Interested in doing a PhD in decision science? Apply to our new interdisciplinary PhD program

    08 Apr 2019 News
  • Honours information session

    We are looking for Honours in Finance students who are interested in doing their Honours research project in our lab

    03 Apr 2019 News
  • More stories More events Twitter@bmmlab

We investigate human and machine decision-making in the presence of complexity, at the level of brain, mind and markets

RESEARCH PROJECTS

We do theoretical and empirical research addressing fundamental questions in individual decision-making and markets, with the aim to identify new ways to improve both human and machine decision-making. Our work integrates knowledge and methods from decision and game theory with neurobiology, economics and finance, psychology and computer science. Most of our empirical work is based on laboratory experiments.

Our research is organised around three themes: complexity, learning and markets. A list of current and past projects is available on our Research Themes page.

PUBLICATIONS

A list of publications by lab members is available on the publications page.

RESEARCH TRAINING

We offer research training at both Honours and PhD level. To find out about doing Honours with us, visit the Honours in Finance site. If you are interested in doing a PhD with us, please go to the page of our inter-disciplinary PhD program in decision science (Decision, Risk and Financial Sciences) for more information.

TAKE PART

You can take part in our experiments. We are always looking for participants.

Most of our experiments take place on the University of Melbourne Parkville campus. An experiment typically lasts between one and three hours. Participants are compensated for their time.

Click here to find out which experiments we are currently recruiting for and what's involved in participating.

SOFTWARE ENGINEERING

We also develop software for both research and commercial purposes. Our lab has been closely involved in the development of FLEX-E-MARKETS, a platform for online, continuous double auction markets. We use FLEX-E-MARKETS in our research on asset pricing as well as in our teaching. We also develop market mechanisms and trading algorithms.

This page lists publications since 2012 by current members of the lab. Earlier publications are available on PubMed and Google Scholar

Research Themes

We teach decision-making at undergraduate, Masters and PhD level and also offer custom-made executive education programs

UNDERGRADUATE

  • Algorithmic Trading

    In this subject, students learn to develop trading algorithms and how to evaluate those algorithms

  • Elements of Quantum Computing

    This subject provides an introduction to quantum computing for students from a range of backgrounds

  • Experimental Finance

    This subject introduces students to novel experimental research methods to shed new light on asset pricing theory

  • Foundations of Fintech

    This new subject discusses how emerging technologies can be used to solve fundamental problems in finance

  • Investments

    This Honours subject offers an advanced introduction to asset pricing theory

  • Street Finance

    Third-year undergraduate subject on financial literacy in which university students teach finance to high-school students

POSTGRADUATE

  • Experimental Methods in Decision Studies

    This subject introduces students to methods for experimental research on decision-making

  • Fintech: Foundations and Applications

    In this subject, students apply new technologies such as DLT and various machine learning algorithms to solve fundamental problems in finance

EXECUTIVE EDUCATION

We offer custom-made executive education programs to public- and private-sector organisations through MSPACE. For more information please contact us.

We are a diverse team of decision scientists investigating fundamental questions about the nature of decision-making

OUR PEOPLE

Meet our team of economists, neuroscientists, mathematicians and computer scientists. If you are interested in joining our team, please visit our Opportunities page. This page also contains information for students who are interested in doing a PhD, their Honours research project or an internship with us.

Team photo planning day 2018

OUR WORK

We do theoretical and empirical research on individual decision-making and on markets. Most of our current work focuses on complexity of decisions, learning and markets. In our research, we integrate knowledge and methods from decision and game theory with neurobiology, economics and finance, psychology and computer science. Most of our empirical research is based on laboratory experiments. More information is available in the Research section. Our publications are available on the Publications page.

We also teach, at both undergraduate and postgraduate level, and we offer executive education, on topics including behavioural economics/finance, neuroscience of decision-making, algorithmic trading, fintech and research methods. Our teaching builds heavily on our research. More information on the subjects we currently offer is available in the Teaching section.

OUR PLACE

Our lab is based on the Parkville campus of the University of Melbourne, just north of Melbourne's CBD. It is located on the edge of the the Melbourne Biomedical Precinct, Australia’s, and one of the world’s, leading biomedical precincts. It is only a short walk away from the new Melbourne Innovation Districts.

In our research, we collaborate with colleagues in the Faculty of Medicine, Dentistry and Health Sciences at the University of Melbourne, the Florey Institute for Neuroscience and Mental Health, as well as at universities around the world including the California Institute of Technology, Cambridge University, University of Minnesota and University of Utah.

OUR NEWS

  • Congratulations again to Nitin Yadav!

    The BMMLAB is delighted to announce Nitin Yadav's special commendation in the annual Dean's Award for Exceptional Distinction in Research (Engagement and Partnerships)!

    29 Nov 2019 News
  • BMMLAB at ACNS 2019

    BMMLAB neuroscience research at the 2019 Australasian Cognitive Neuroscience Society Conference in Launceston this November!

    29 Nov 2019 News
  • BMMLAB at FIRN 2019

    Peter Bossaerts and Felix Fattinger presented some of BMMLAB's research into asset pricing at the 9th annual FIRN conference in Byron Bay in November.

    29 Nov 2019 News
  • Congratulations to Nitin Yadav!

    The BMMLAB is delighted to announce Nitin Yadav's promotion to Senior Lecturer in Computational Finance!

    22 Nov 2019 News
  • The Science of Markets - AFR

    The science that shows it's hard to beat the market.BMMLAB's co-head Peter Bossaerts featured in the Australian Financial Review.

    30 Oct 2019 News
  • Society for Neuroscience 2019

    Research highlights from BMMLAB's Elizabeth Bowman and Jeremy Metha will be presented at two nanosymposia at the Neuroscience 2019 meeting in Chicago (October 19 to 23).

    22 Oct 2019 News
  • Digital playground for Foundations of Fintech

    Felix Fattinger will showcase how support from the Williams Centre for Learning Advancement has enabled BMMLAB to develop state-of-the-art technologies to deliver our new Foundations of Fintech subject.

    17 Sep 2019 News
  • Investment Innovation Institute luncheons 2019

    Carsten Murawski is a guest of the Investment Innovation Institute this week, presenting on decision making for complex problems at events in Melbourne and Sydney on September 10 and 11.

    10 Sep 2019 News
  • The Future of Banking – Meeting Consumer Needs

    Carsten Murawski is part of an expert panel on Wednesday 28 August to discuss the critical questions of what customers actually want from their bank, if banks are actually delivering these services and how are they prepared to meet the needs of Australian consumers in the future.

    28 Aug 2019 News
  • Improving the finance sector for all Australians

    Carsten Murawski has co-authored a white paper calling for urgent action to address current and future financial challenges and to improve outcomes for all Australians.

    19 Aug 2019 News
  • FinTech students must crack code - The Australian

    Carsten Murawski has emphasised the importance of financial technologies (or "FinTech") to the training and education of future finance graduates in a new article in The Australian newspaper.

    09 Jul 2019 News
  • BMMLAB on tour: ESAM 2019 Perth

    Various members of the lab will be presenting our work on computational complexity, decision-making and asset pricing at the Econometric Society Asia-Pacific Meeting 2019 in Perth on 1-3 July 2019.

    23 Jun 2019 News
  • Congratulations to Felix Fattinger for Best Asset Pricing Paper at WFAM!

    Felix Fattinger has been awarded the NASDAQ Prize for best paper on asset pricing at the 2019 Western Finance Association Meeting, for his paper titled "Trading Complex Risks".

    20 Jun 2019 News
  • BMMLAB research showcased at Society for Experimental Finance Meeting 2019

    Peter Bossaerts, Nitin Yadav, and Felix Fattinger presented BMMLAB research at a number of well received presentations at the 10th annual meeting of the Society for Experimental Finance in Copenhagen from June 13 to 15.

    18 Jun 2019 News
  • Barcelona GSE Summer Forum - Computational and Experimental Economics Workshop

    Peter Bossaerts presented "Asset pricing under computational complexity" at the Barcelona GSE Summer Forum Computational and Experimental Economics Workshop in Barcelona on June 11.

    18 Jun 2019 News
  • Experiments in Corporate and Entrepreneurial Finance Workshop - Lyon

    Peter Bossaerts has given the keynote address "Asset pricing under computational complexity" at the Experiments in Corporate and Entrepreneurial Finance workshop on Lyon on June 7.

    18 Jun 2019 News
  • What makes decisions complex? ESA professional development seminar

    Carsten Murawski will be presenting a professional development seminar for the Economic Society of Australia on 'What makes decisions complex? Implications for industry and public policy'

    17 Jun 2019 News
  • BMMLAB welcomes Shinsuke Suzuki!

    Shinsuke Suzuki has joined the BMMLAB team as our new Associate Professor of Decision Neuroscience.

    17 Jun 2019 News
  • Financial literacy is the new black

    Carsten Murawski joined Corinne Proske, Jan West and Lynne Williams  to discuss the importance of financial literacy and what people can do to get control of their finances at a practical level

    13 Jun 2019 News
  • Communication, Code and Conventions Workshop

    BMMLAB hosted a workshop for our 2019 Honours students on Friday 24 May, bringing everyone up to speed on our coding conventions and how we deal with data.

    24 May 2019 News
  • The Human Factor in Economics: From Adam Smith to Artificial Intelligence

    Peter Bossaerts and Nobel Laureate Vernon L. Smith will present a public symposium at Durham University on 5 June.

    14 May 2019 News
  • A computational and neural model for mood dynamics - BMMLAB Guest Seminar

    BMMLAB presents a Special Guest Seminar by Dr Robb Rutledge (UCL) at 1pm on Monday 13 May.

    08 May 2019 News
  • New undergraduate subject on fintech

    We will be offering a new third-year undergraduate subject on fintech (finance and technology) in Semester 2, 2019

    08 Apr 2019 News
  • PhD applications close soon

    Interested in doing a PhD in decision science? Apply to our new interdisciplinary PhD program

    08 Apr 2019 News
  • Honours information session

    We are looking for Honours in Finance students who are interested in doing their Honours research project in our lab

    03 Apr 2019 News
  • More stories More events Twitter@bmmlab

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