Behavioral Economics

Course content

This course focuses on psychology of decision making in various aspect of economics in both individual level and macro economic issues. Behavioral Economics is a new approach to understand the behavior of the economic agents via conducting labratuary experiments and testing the theories against the collected data. The theoretical framework is based on Game theory and game experiment. This course aims to introduce the students to behavioral and experimental economics. We will survey the literature on market experiments, focusing on the predictions of neoclassical theory. Secondly, we will explore various experimental methods, their advantages and disadvantages.