Fall 2024 Economics GR6493 section 001

BEHAVIORAL ECONOMICS

Call Number 10641
Day & Time
Location
F 1:10pm-4:00pm
1102 International Affairs Building
Points 3
Grading Mode Standard
Approvals Required None
Instructor Mark Dean
Type LECTURE
Method of Instruction In-Person
Course Description

Prerequisites: Completion of 1st year graduate program in Economics, or the instructor's permission. The standard model of economic behavior describes a perfectly rational, self interested utility maximizer with unlimited cognitive resources. In many cases, this provides a good approximation to the types of behavior that economists are interested in. However, over the past 30 years, experimental and behavioral economists have documented ways in which the standard model is not just wrong, but is wrong in ways that are important for economic outcomes. Understanding these behaviors, and their implications, is one of the most exciting areas of current economic inquiry. This course will study three important topics within behavioral economics: Bounded rationality, temptation and self control and reference dependent preferences. It will draw on research from behavioral economics, experimental economics, decision theory, psychology and neuroscience in order to describe the models that have been developed to explain failures of the standard approach, the evidence in support of these models, and their economic implications.

Web Site Vergil
Department Economics
Enrollment 15 students (40 max) as of 9:06PM Tuesday, February 18, 2025
Subject Economics
Number GR6493
Section 001
Division Graduate School of Arts and Sciences
Note Open to Econ PhD students; others require faculty approval
Section key 20243ECON6493G001