ECH-51306 Behavioral & Experimental Economics

Course

Credits 6.00

Teaching methodContact hours
Individual Paper2
Lecture12
Tutorial12
Practical12
Independent study
Course coordinator(s)dr. MJJ Handgraaf
Lecturer(s)dr. MJJ Handgraaf
dr. ir. MJ Voors
Examiner(s)dr. MJJ Handgraaf
prof. dr. EH Bulte

Language of instruction:

English

Contents:

Economic theories make assumptions about human behavior, such as rationality, self-control, self-interest, etc. This course adresses findings from Behavioral Economics that undermine these assumptions. Topics are:
- bounded rationality;
- bounded self-control;
- bounded self-interest;
- new methods, eg. neuro-economics;
- implications.
The interactive part focuses on experimental methods to investigate such 'boundedness'. We discuss:
- methods;
- standard paradigms;
- usefulness of experiments;
- experiments vs. real life;
The practical sessions provide hands-on experience with experiments:
- translating research questions into experiments;
- running studies.

Learning outcomes:

After successful completion of the course students are expectd to be able to:
- review behavioral economics theories;
- discuss boundedness of human thinking/deciding;
- evaluate experimental methods;
- design/run experiments;
- discuss emerging fields/topics.

Activities:

- lectures: attending, studying book/articles;
- interactive lectures: discussion of findings/methods;
- practical sessions: participation in experiments, designing and setting them up;
- writing experimental proposals in small groups.

Examination:

- participation;
- quality of proposal;
- ahort exam (Essay & MC);
(1/3 each)

Literature:

- Book: Wilkinson & Klaes, An Introduction to Behavioral Economics, 2nd ed.
- articles TBD.