University of Oslo Teaching, spring 2013 — Geir B. Asheim


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ECON4260 BEHAVIORAL ECONOMICS — SPRING SEMESTER 2013
Plan for the course and the lectures

Lecturers:

    Topic 1: Behavioral decision theory.
        Kjell Arne Brekke — Room ES1032 — Tel: 228 41169 — E-mail: k.a.brekke@econ.uio.no
    Topic 2: Time inconsistency and self-control.
        Geir B. Asheim — Room ES1152 — Tel: 228 55498, 455 05 136 — E-mail: g.b.asheim@econ.uio.no
    Topic 3: Social preferences and fairness.
        Karine Nyborg — Room ES1030 — Tel: 228 57283 — E-mail: karine.nyborg@econ.uio.no
    Seminars:
        Kristoffer Midttømme — Room ES1118 — Tel: 228 55112 — E-mail: kristoffer.midttomme@econ.uio.no

Course content and readings:

This course provides an overview of behavioral economics. Behavioral economics incorporates descriptively accurate assumptions about cognitive ability, social interaction, moral motivation, and emotional responses into economic modeling and explores the implications of this for human behavior and economic outcomes. These assumptions are often motivated by empirical findings in psychology, sociology and related disciplines, as well as the field of experimental economics. Behavioral economics seeks to generate theoretical insights, make more accurate predictions of field phenomena, and suggest welfare improving policies.

Most of the readings are provided through links from the following subpages.

  •   Overview over behavioral economics
  •   Topic 1: Behavioral decision theory
  •   Topic 2: Time inconsistency and self-control
  •   Topic 3: Social preferences and fairness
  • Lectures:

        Lecture notes will be made available through links below. [2 signifies versions of the notes with 2 slides per page.]

    1. First lecture on Topic 1: Probabilities, Expected utility and Prospect Theory. KAB
      Tue 15 Jan 1215-1400, ES110 Aud 3.
    2. Second lecture on Topic 1: Cumulative prospect theory. KAB
      Tue 22 Jan 1215-1400, ES110 Aud 3.
    3. Third lecture on Topic 1: Endowment effects and aversion to modest risk. KAB
      Tue 29 Jan 1215-1400, ES110 Aud 3.
    4. Fourth lecture on Topic 1: Mental accounting and the equity premium puzzle. KAB
      Tue 5 Feb 1215-1400, ES110 Aud 3.
    5. First lecture on Topic 2: Introduction to self-control problems (2). GBA
      Tue 12 Feb 1215-1400, ES110 Aud 3.
    6. Second lecture on Topic 2: Modeling self-control problems I: Multi-self vs. temptation (2). GBA
      Tue 19 Feb 1215-1400, ES110 Aud 3.
    7. Third lecture on Topic 2: Application to the theory of consumption (2; 3-period cons.-saving example). GBA
      Tue 5 Mar 1215-1400, ES110 Aud 3.
    8. Fourth lecture on Topic 2: Modeling self-control problems II: Dual-self (2). GBA
      Tue 12 Mar 1215-1400, ES110 Aud 3.
    9. First lecture on Topic 3: Experimental economics. KN
      Tue 19 Mar 1215-1400, ES110 Aud 3.
    10. Second lecture on Topic 3: Inequity aversion. KN
      Tue 9 Apr 1215-1400, ES110 Aud 3.
    11. Third lecture on Topic 3: Reciprocity. KN
      Tue 16 Apr 1215-1400, ES110 Aud 3.
    12. Fourth lecture on Topic 3: Altruism. KN
      Tue 23 Apr 1215-1400, ES110 Aud 3.
    13. Fifth lecture on Topic 3: Social norms and social approval. KN
      Tue 30 Apr 1215-1400, ES110 Aud 3.

    Seminars:

        Problems to be discussed will be made available through links below.

    1. Problems to be discussed at the first seminar.
      Mon 28 Jan 1015-1200 GS 3512 Und.rom 2 and Thu 31 Jan 1015-1200 HH201 (KM)
    2. Problems to be discussed at the second seminar.
      Mon 11 Feb 1015-1200 HH101 and Thu 14 Feb 1015-1200 HH201 (KM)
    3. Problems to be discussed at the third seminar.
      Mon 25 Feb 1015-1200 HH101 and Thu 28 Feb 1015-1200 HH201 (KM)
    4. Problems to be discussed at the fourth seminar.
      Mon 11 Mar 1015-1200 HH101 and Thu 14 Mar 1015-1200 HH201 (KM)
    5. Problems to be discussed at the fifth seminar. (Solutions)
      Mon 22 Apr 1015-1200 HH101 and Thu 25 Apr 1015-1200 HH201 (KM)
    6. Problems to be discussed at the sixth seminar. (Solutions)
      Thu 2 May 1015-1200 HH101 and Mon 6 May 1015-1200 HH101 (KM)

    Last modified: 8 January 2013