B026402 - BEHAVIOURAL ECONOMICS

English

Students will be introduced to the key concepts of behavioral economics like bounded rationality, heuristics for complex choices, and framing effect. With these new concepts they will study choices under risk and the prospect theory. Then, social preferences will be investigated in a behavioral framework, as well as how culture and evolution matter for economic choices. An introduction to the literature on happiness will conclude the course

A list of references given by the Instructor at the start of the lessons

Students should be able to discuss the relationship between the behavioral approach and the neoclassical economic theory. This connection should include both the conceptual framework and the implications for the economic analysis, as well as the consequences in terms of policy. This competence should cover the key issues of economic behavior (saving, labor supply, contributing in a public good game, etc).

The exam of microeconomics at the university degree is highly advised, togheter with one or two exams focused on statistical methods. The
course will be most fruitful for students who have already some knowledge of decision and game theory or, alternatively, for those interested on policy evalutation methods.

During the course, there will be both lectures by the instructor and presentations by students. At the start of the course, a paper will be assigned to each student to be presented on a topic of her/his choice. A few lessons will be in the UNIFI economics experimental laboratory. Videos and podcasts will be used as material for learning.

The Instructor will be in class and the lesson will be in streaming only for those students that can't be in class for health reasons. No registration of lessons will be allowed. The exams will be diversified for attending and not attending students (see Section Modalità di valutazione dell'apprendimento below). To be cassified as an attending student, the student have to be present to at least 26 out of 32 meetings of the course and he/she have to present a paper during the course. Students who are in remote, can be classified as attending students if they are connected at least 26 out of 32 meetings and if he/she will present a paper during lessons. During connection, the webcame have to be turned on.

For attending students (see Section Altre informazioni for the distinction attending-non attending students), the final evaluation will be with 30 points, to which it will contribute: a written exam; a presentation of a paper in class; the participation to the experimental lab activities. In detail, the written exam consists of five questions and one hour and half will be the time given. To answer the questions the graphical analysis is necessary. The content of the questions will be mainly related with the experiments presented during lessons. In each question, the student should be able to present and discuss one experiment and its main results. For not attending students, the exam will be written and oral. During the latter, the complete list of references will be discussed with the Instructor.

Students will be introduced to the key concepts of behavioral economics like bounded rationality, heuristics for complex choices and framing effect. With these new concepts we will study choices under risk and the prospect theory. Then, social preferences will be investigated in a behavioral framework, as well as how culture and evolution matter for economic choices. The course will end with an introduction to the literature on happiness.

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