Кто читает:: Международный институт экономики и финансов

Статус:: Курс по выбору

Когда читается:: 4-й курс, 1, 2 модуль

Преподаватели

Ворчик Андрей Денисович

Усвицкий Александр Вадимович

Full Syllabus

Abstract

The course introduces students to the field of behavioural economics a discipline which combines insights from economics and psychology, as well as others, like sociology or political science, to understand the nature and motives of human behaviour in individual and interactive decision-making. Behavioural economics combines the rigour of economic analysis of individual and interactive collective decisions with empirical facts about behaviour established through careful obervational and experimental studies. Experimental design and methods, with applications to the lab, field and nature, will be intergal part of the course. Finally, course participants will be enrolled in real research project they are supposed to complete in small groups of 2 4 members, and present its outcome in public at the end of the course. Prerequisites: This course requires completion of Micro 2, Statistics 2 and Econometrics courses of ICEF. Background in social sciences such as Sociology and Political Science, is welcomed, but not mandatory.

Learning Objectives

Familiarize students with contemporary experimental and empirical studies of human behaviour which emerged as a result of interdisciplinary research in economics, psychology and other social sciences
Develop critical thinking and working skills with contemporary research literature.
Enhance their creativity and capability to conduct independent research in the field of behavioural and social sciences, data analysis and interpretation

Expected Learning Outcomes

- able to critically evaluate the main trends of modern economics, competently lead a discussion about the arguments in favor of each of them
- able to organize the activities of a small group created for the implementation of a specific economic project
- capable of setting research task and conducting empirical research, including problem analysis, setting goals and objectives, identifying the object and subject of research, choosing the means and methods of research, as well as assessing its quality

Course Contents

Rationality and decision-making
Heuristics and biases
Choice under risk and uncertainty
Strategic interactions
Experimental design
Intertemporal choice
Social preferences
Applied theory and experiments
Markets

Assessment Elements

Seminar activity
Home assignments
Research project
Final examination

Interim Assessment

2023/2024 2nd module
0.4 * Final examination + 0.2 * Home assignments + 0.3 * Research project + 0.1 * Seminar activity

Bibliography

Recommended Core Bibliography

A course in behavioral economics, Angner, E., 2016
Methods in experimental economics : an introduction, Weimann, J., 2019

Recommended Additional Bibliography

An introduction to behavioral economics, Wilkinson, N., 2012
Chris Starmer. (2000). Developments in Non-expected Utility Theory: The Hunt for a Descriptive Theory of Choice under Risk. Journal of Economic Literature, (2), 332. https://doi.org/10.1257/jel.38.2.332
Colin F. Camerer, & Richard H. Thaler. (1995). Anomalies: Ultimatums, Dictators and Manners. Journal of Economic Perspectives, (2), 209. https://doi.org/10.1257/jep.9.2.209
Daniel Kahneman, & Amos Tversky. (1979). Prospect theory: An analysis of decision under risk. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsbas&AN=edsbas.8AB1AB05
Duflo, E., Glennerster, R., & Kremer, M. (2008). Using Randomization in Development Economics Research: A Toolkit. Handbook of Development Economics, 3895. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsrep&AN=edsrep.h.eee.devchp.5.61
Ernst Fehr, & Simon Gächter. (2000). Cooperation and Punishment in Public Goods Experiments. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsbas&AN=edsbas.C8B1230
Fehr, E., & Schmidt, K. M. (1999). A Theory of Fairness, Competition, and Cooperation. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsbas&AN=edsbas.8A52174F
Gächter, S., & Herrmann, B. (2008). Reciprocity, culture and human cooperation: previous insights and a new cross-cultural experiment. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsbas&AN=edsbas.78FCB46
Glenn Harrison. (2011). The methodological promise of experimental economics. Journal of Economic Methodology, (2), 183. https://doi.org/10.1080/1350178X.2011.580135
Gneezy, & John A. List. (2006). Putting behavioral economics to work: Testing Gift Exchange in Labor Markets using Field Experiments,” Econometrica. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsbas&AN=edsbas.7848290C
Kagel, J. H., & Levin, D. (1986). The Winner’s Curse and Public Information in Common Value Auctions. American Economic Review, 76(5), 894. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=bsu&AN=4498237
Koszegi, B., & Rabin, M. (2006). A Model of Reference-Dependent Preferences. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsbas&AN=edsbas.FE37081A
Loewenstein, G., & Prelec, D. (1992). Anomalies in intertemporal choice: Evidence and an interpretation. Quarterly Journal of Economics, 107(2), 573. https://doi.org/10.2307/2118482
Moffatt, P. G. (2015). Experimetrics : Econometrics for Experimental Economics. Basingstoke: Palgrave Macmillan. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=1523968
Simon, H. A. (1978). Rationality as Process and as Product of Thought. American Economic Review, (2), 1. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsrep&AN=edsrep.a.aea.aecrev.v68y1978i2p1.16
Smith, V. L. (1989). Theory, Experiment and Economics. Journal of Economic Perspectives, 3(1), 151–169. https://doi.org/10.1257/jep.3.1.151
Smith, V. L., Suchanek, G. L., & Williams, A. W. (1988). Bubbles, Crashes, and Endogenous Expectations in Experimental Spot Asset Markets. Econometrica, (5), 1119. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsrep&AN=edsrep.a.ecm.emetrp.v56y1988i5p1119.51
Vernon L. Smith. (1962). An Experimental Study of Competitive Market Behavior. Journal of Political Economy, 322. https://doi.org/10.1086/258660

Бакалаврская программа «Международная программа по экономике и финансам»

Консультации абитуриентов

Контакты

Experimental and Behavioural Economics