University of Oslo Teaching, fall 2014 — Geir B. Asheim


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ECON4260 BEHAVIORAL ECONOMICS — FALL SEMESTER 2014
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:
        Alice Ciccone — Room ES1209 — Tel: 228 55112 — E-mail: alice.ciccone@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 19 Aug 0815-1000, ES113 Aud 4.
    2. Second lecture on Topic 1: Cumulative prospect theory. KAB
      Tue 26 Aug 0815-1000, ES113 Aud 4.
    3. Third lecture on Topic 1: Endowment effects and aversion to modest risk. KAB
      Tue 2 Sep 0815-1000, ES113 Aud 4.
    4. Fourth lecture on Topic 1: Mental accounting and the equity premium puzzle. KAB
      Tue 9 Sep 0815-1000, ES113 Aud 4.
    5. First lecture on Topic 2: Introduction to self-control problems (2). GBA
      Tue 16 Sep 0815-1000, ES113 Aud 4.
    6. Second lecture on Topic 2: Modeling self-control problems I: Multi-self vs. temptation (2). GBA
      Wed 24 Sep 0815-1000, ES113 Aud 4 (Note day!).
    7. Third lecture on Topic 2: Application to the theory of consumption (2; 3-period cons.-saving example). GBA
      Tue 30 Sep 0815-1000, ES113 Aud 4.
    8. Fourth lecture on Topic 2: Modeling self-control problems II: Dual-self (2). GBA
      Tue 7 Oct 0815-1000, ES113 Aud 4.
    9. First lecture on Topic 3: Experimental economics. KN
      Tue 14 Oct 0815-1000, ES113 Aud 4.
    10. Second lecture on Topic 3: Inequity aversion. KN
      Tue 21 Oct 0815-1000, ES113 Aud 4.
    11. Third lecture on Topic 3: Reciprocity. KN
      Tue 28 Oct 0815-1000, ES113 Aud 4.
    12. Fourth lecture on Topic 3: Altruism. KN
      Tue 4 Nov 0815-1000, ES113 Aud 4.
    13. Fifth lecture on Topic 3: Social norms and social approval. KN
      Tue 11 Nov 0815-1000, ES113 Aud 4.

    Seminars:

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

    1. Problems to be discussed at the first seminar.
      Tue 2 Sep 1615-1800 HH301 and Wed 3 Sep 0815-1000 ES529 (AC)
    2. Problems to be discussed at the second seminar.
      Tue 16 Sep 1615-1800 HH301 and Wed 17 Sep 0815-1000 ES529 (AC)
    3. Problems to be discussed at the third seminar.
      Tue 30 Sep 1615-1800 HH301 and Wed 1 Oct 0815-1000 ES529 (AC)
    4. Problems to be discussed at the fourth seminar.
      Tue 14 Oct 1615-1800 HH301 and Wed 15 Oct 0815-1000 ES529 (AC)
    5. Problems to be discussed at the fifth seminar. (Solutions)
      Tue 28 Oct 1615-1800 HH301 and Wed 29 Oct 0815-1000 ES529 (AC)
    6. Problems to be discussed at the sixth seminar. (Solutions)
      Tue 11 Nov 1615-1800 HH301 and Wed 12 Nov 0815-1000 ES529 (AC)

    Last modified: 3 November 2014