University Teaching, fall 2006 — Geir B. Asheim


You are here: UiO > Academics > Courses > ECON4260 > Autumn 2006 >

ECON4260 BEHAVIORAL ECONOMICS — FALL SEMESTER 2006
Plan for the course and the lectures

Lecturers:

    Topic 1: Behavioral decision theory.
        Kjell Arne Brekke — Frisch Centre — Tel: 2295 8819 — E-mail: k.a.brekke@frisch.uio.no
    Topic 2: Time inconsistency and self-control.
        Geir B. Asheim — Room ES1152 — Tel: 228 55498 — E-mail: g.b.asheim@econ.uio.no
    Topic 3: Social preferences and fairness.
        Karine Nyborg — Frisch Centre — Tel: 2295 8823 — E-mail: karine.nyborg@frisch.uio.no
    Seminars.
        Karen Evelyn Hauge — Room ES1219 — Tel: 228 55499 — E-mail: k.e.hauge@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
      Wed 23 Aug 0815-1000, Eilert Sundt 4.
    2. Second lecture on Topic 1: Cumulative prospect theory. KAB
      Wed 30 Aug 0815-1000, Eilert Sundt 4.
    3. Third lecture on Topic 1: Endowment effects and aversion to modest risk. KAB
      Wed 6 Sep 0815-1000, Eilert Sundt 4.
    4. Fourth lecture on Topic 1: Mental accounting and the equity premium puzzle. KAB
      Wed 13 Sep 0815-1000, Eilert Sundt 4.
    5. First lecture on Topic 2: Introduction to self-control problems (2). GBA
      Wed 20 Sep 0815-1000, Eilert Sundt 4.
    6. Second lecture on Topic 2: Modeling self-control problems I: Multi-self vs. temptation (2). GBA
      Wed 27 Sep 0815-1000, Eilert Sundt 4.
    7. Third lecture on Topic 2: Application to the theory of consumption (2; 3-period cons.-saving example). GBA
      Wed 11 Oct 0815-1000, Eilert Sundt 4.
    8. Fourth lecture on Topic 2: Modeling self-control problems II: Dual-self. KAB
      Wed 18 Oct 0815-1000, Eilert Sundt 4.
    9. First lecture on Topic 3: Experimental economics. KN
      Wed 25 Oct 0815-1000, Eilert Sundt 4.
    10. Second lecture on Topic 3: Inequity aversion. KN
      Wed 1 Nov 0815-1000, Eilert Sundt 4.
    11. Third lecture on Topic 3: Reciprocity. KN
      Wed 8 Nov 0815-1000, Eilert Sundt 4.
    12. Fourth lecture on Topic 3: Altruism. KN
      Wed 15 Nov 0815-1000, Eilert Sundt 4.
    13. Fifth lecture on Topic 3: Social norms and social approval. KN
      Wed 22 Nov 0815-1000, Eilert Sundt 4.

    Seminars:

        Problems to be discussed and the two compulsory assignments will be made available through links below.

    1. Problems to be discussed at the first seminar. Solutions. KEH
      Mon 4 Sep 1415-1600 P.A. Munch 156 [NOTE CHANGE OF PLACE]
    2. Problems to be discussed at the second seminar. KEH
      Mon 18 Sep 1415-1600 Eilert Sundt 1247
    3. Solutions to the problems of the first compulsory assignment (due: 3 Oct) will be presented. KEH
      Mon 9 Oct 1415-1600 Eilert Sundt 1247
    4. Problems to be discussed at the fourth seminar. KEH
      Mon 23 Oct 1415-1600 Eilert Sundt 1247
    5. Problems to be discussed at the fifth seminar. Solutions. KEH
      Mon 6 Nov 1415-1600 Eilert Sundt 1247
    6. Solutions to the problems of the second compulsory assignment (due: 14 Nov) will be presented. KEH
      Mon 20 Nov 1415-1600 Eilert Sundt 1247

    Research seminars:

        Please note that the Oslo Seminars in Behavioral and Experimental Economics are of interest for the participants in this course.

    Achievement requirements:

        There are two compulsory assignments. The problems of these assignments must be solved individually. The solutions will be evaluated and feedback will be given. Acceptable solutions are required in order to be allowed to take the final exam.


    Last modified: 7 November 2006