Behavioral Economics and Decision Making

Catalog description

Behavioral economics leverages insights from psychology to enhance our understanding of economics. It stemmed from a series of observations that the standard economic view of people as “rational expected utility maximizers” does not hold true in a number of contexts. This two-part course offers an introduction to behavioral economics and its applications in health, health care, and health policy. We will examine the foundations of the field, then consider 1) the structure of choice environments and how people are influenced by how choices are framed, 2) strategies for supercharging incentive programs, 3) the use of social incentives and social comparisons to achieve better physician performance, 4) approaches to implementing behavioral interventions in business and academic settings, and 5) the ethics of behavioral economics and the question of when a “nudge” becomes a shove. You will practice applying principles to real-world cases and draft a funding proposal for an intervention of your design. This is a multi-term course. To earn course credit, students must successfully complete both HCIN6020A in the Fall and HCIN6020B in the Spring. Students who complete both parts will receive a single grade and earn 1 CU total.