Bachelor
2021/2022
Behavioral and Experimental Economics and Finance
Type:
Elective course (Economics)
Area of studies:
Economics
Delivered by:
Department of Economics
When:
3 year, 1 module
Mode of studies:
offline
Open to:
students of all HSE University campuses
Instructors:
Tatyana Zhuravleva
Language:
English
ECTS credits:
3
Contact hours:
28
Course Syllabus
Abstract
From the experimental side, we will study the most profound observations from the lab and the field, learn basic techniques how to create and evaluate your own experimental data. From the theoretical side, we will study basic theories that attempt to explain observed biases and learn how to extend the standard economic models to account for behavioral aspects.
Learning Objectives
- give to students an idea of what is Be-havioral Economics as a separate field of Economics.
Expected Learning Outcomes
- to construct a mathematical model of an observed bias and solve it
- to describe the observed behavior using the established academic theories
- to design and run an experiment
- to distinguish the standard rational agent behavior from the observed patterns
- to identify behavioral biases in economically relevant situations
- to propose a falsifiable hypothesis w.r.t. a certain aspect of behavior, and an experiment to test it
Course Contents
- Introduction to BEE
- Rational choice under certainty
- Behavioral choice under certainty
- Probability judgment
- Judgment under risk and uncertainty
- Rational choice under risk
- Behavioral choice under risk
- Intertemporal choice
- Behavioral game theory
- Other-regarding preferences
- Belief-management
Interim Assessment
- 2021/2022 1st module0.2 * Participation + 0.2 * Homeworks + 0.4 * Exam + 0.2 * Test
Bibliography
Recommended Core Bibliography
- Brañas-Garza, P., & Cabrales, A. (2016). Experimental Economics : Volume II: Economic Applications. Basingstoke, Hampshire [UK]: Palgrave Macmillan. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=1231543
Recommended Additional Bibliography
- Burkett, J. P. (2006). Microeconomics: Optimization, Experiments, and Behavior. Oxford University Press. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsrep&AN=edsrep.b.oxp.obooks.9780195189629