Classes

The course focuses on classical models of choice in abstract settings, as well as uncertain and intertemporal environments. We will also study recent models that incorporate insights from psychology, such as temptation and self-control.

Psychological concepts include social preferences, impulsivity, bounded rationality, loss-aversion, over-confidence, self-serving biases, hedonics, and neuroscience. Economic concepts include arbitrage, equilibrium, rational choice, utility maximization, Bayesian beliefs...

The seminar will focus on theoretical and experimental issues in behavioral economics. We will study the relationships between the mathematical models of individual behavior (both utility maximization and psychologically motivated models) and the kinds of behavior we can...

The class will read and discuss current research in economics with a focus on game theory and decision theory. Students will be expected to make a verbal presentation. Students must complete both parts of this course (parts A and B) within the same academic year in order to...