This is a research class aimed at PhD students in economics, psychology, or related disciplines, and is part of a sequence of courses that focus on different aspects of behavioral economics. This class will examine behavioral economics in the context of theory and controlled laboratory experiments.
Traditional economic theory is based on standard working assumptions which include unlimited rationality and complete self-control. Behavioral economics considers what happens in economic contexts when these working assumptions are modified to incorporate more realistic conceptions of human behavior. The role of markets is central to this study. We carefully consider conditions under which rationality of participants influences market outcomes. However, financial markets are not covered in detail, and this is not a finance class.
Students will be asked to write frequent short papers based on original ideas and a more substantial research paper. The research paper is due at a date TBD to give students time to undertake a serious paper. There will be one course meeting during the Spring quarter, on a date to be arranged, where these papers will be presented.
PhD students only: strict. BUSN 38918=ECON 41185
Description and/or course criteria last updated: February 07 2024
