This course gives an introduction to behavioral economics. Behavioral economics integrates insights from psychology into economics. Going beyond the bounds of rationality and self-interest of economic agents, behavioral economics is concerned with the effects of psychological, cognitive, and social factors on the decisions of individuals and groups. We will look at the most important cognitive biases as well as their causes and consequences. The students will learn, for instance, how people behave under uncertainty, how they make predictions for the future, how they remember and evaluate the past, if they make consistent decisions over time, what makes them happy, and if they care about fairness. The aim of the course is to give an overview of the most important findings behavioral economics has to offer and to help the students to understand human behavior in its complexity.
Textbooks:
Daniel Kahneman (2011), Thinking, Fast and Slow
Richard Thaler (2015), Misbehaving: The Making of Behavioral Economics
- Dozent:in: Astrid Dannenberg
- Dozent:in: Marcel Lumkowsky