Behavioral Economics

Catalog description

People often behave differently than what economic theory suggests. Insights from Psychology and other disciplines can explain some of these differences, and provide an improved understanding of Economic behavior. This course will review standard Economic theories, discuss empirical and experimental deviations from these theories, and introduce alternative theories from other disciplines. Specific topics may include reciprocity, altruism, anchoring, framing, prospect theory, regret, and dynamic inconsistency. Prerequisite(s): ECON 2020 , or a B or better in ECON 2000 ; or consent of instructor.