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2022/2023 KAN-CPSYO2001U Behavioral Economics II
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| Behavioral Economics II |
Course information |
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| Language | English |
| Course ECTS | 7.5 ECTS |
| Type | Mandatory |
| Level | Full Degree Master |
| Duration | One Semester |
| Start time of the course | Autumn |
| Timetable | Course schedule will be posted at calendar.cbs.dk |
| Study board |
Study Board for BSc/MSc in Business Administration and
Psychology, MSc
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| Last updated on 28-06-2022 | |
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| Learning objectives | ||||||||||||||||||||||
The overall purpose of the course is to provide
students with insights on and understanding of key elements in
behavioral economics, including how psychology is explicitly
involved in economic and business-economic models to establish more
robust explanations, predictions, and tools. At the end of the
course, students should be able to:
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The course aims at providing students with a broad insight into the many areas where psychology is explicitly involved in economic theory. The course is primarily based on behavioral economics research, which in the wake of the collaboration between Daniel Kahneman and Amos Tversky has taken an increasingly central position in economic theory and practice. Behavioral economics research covers, among other things, decision rationality and heuristics, prospect theory, intertemporal choices, dual process theory, etc. The course will introduce these areas and review how behavioral economics theory has been and can be applied in a number of key areas such as business, organization, sustainability and policy. Further applications of the behavioral and experimental toolkit to social issues will be presented.
The first block of lectures will introduce the field of behavioral economics and will examine its roots in applied economics, rationality, and behavioral theory. The second block will focus more on practical issues within the curriculum of behavioral economics. The purpose there is to provide space for analysing behavioral methods and approaches to tackle social and business issues, to explore the material from diverse angles and to challenge key hypotheses based on the syllabus.
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| Description of the teaching methods | ||||||||||||||||||||||
| The course consists of 12 on campus lectures with 1-2 lectures per week. A variety of methods will be used, covering group discussions, mini-cases and group class exercises to traditional scientific paper analyses. | ||||||||||||||||||||||
| Feedback during the teaching period | ||||||||||||||||||||||
| The course will provide space for feedback and
dialogue throughout, ie. for discussions in plenary for lectures or
for personal inquiries during breaks, after the end of the lecture,
or for inquiries per mail. In addition, the course includes both
exercises and active student participation in several lectures,
where there will be ample opportunity to ask questions, discuss
relevant topics, etc.
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Please treat this list in combination with the posts in CANVAS as some updates might be possible.
Lecture 1: Introduction to Behavioral Economics
Conlisk, J. (1996). Why bounded rationality?Journal of Economic Literature, 34: 669-700.
Lecture 2: What is economics?
Lecture 3: Applied Economic Theory
Lecture 4: What is rationality?
Lecture 5: Alternatives to behavioral theory?
Leeson, P. T. (2012). Ordeals. The Journal of Law and Economics, 55 (3): 691-714.
Lecture 6: Decision making in Behavioral Economics
Readings:
Kahneman, D., & Frederick, S. (2005). A model of heuristic judgment. Cambridge University Press.
Kahneman, D. (2003). Maps of bounded rationality: Psychology for behavioral economics. American economic review, 93(5), 1449-1475.
LeBoeuf, R. A., & Shafir, E. B. (2005). Decision Making. Cambridge University Press.
Harrison, G. W., & List, J. A. (2004). Field experiments. Journal of Economic literature, 42(4), 1009-1055.
Lecture 7: Nudging in Choice Architecture
Readings:
Sunstein, C. R., & Thaler, R. H. (2003). Libertarian paternalism is not an oxymoron. The University of Chicago Law Review, 1159-1202.
Sunstein, C. (2017). Nudges that fail. Behavioural Public Policy, 1(1), 4-25.
Carlsson, F., Gravert, C., Johansson-Stenman, O., & Kurz, V. (2021). The use of green nudges as an environmental policy instrument. Review of Environmental Economics and Policy, 15(2), 216-237.
Pop-economics optional reading:
Thaler, R. H., & Sunstein, C. R. (2008). Nudge: Improving decisions about health, wealth, and happiness. Yale University Press.
List, J. A. (2022). The Voltage Effect. Penguin UK.
Ariely, D., & Jones, S. (2008). Predictably irrational (pp. 278-9). New York: HarperCollins.
Lecture 8: Behavioral Economics Applications & Environmental Sciences
Readings:
Carlsson, F., & Johansson-Stenman, O. (2012). Behavioral economics and environmental policy. Annu. Rev. Resour. Econ., 4(1), 75-99.
Alpizar, F., Carlsson, F., & Johansson-Stenman, O. (2008). Anonymity, reciprocity, and conformity: Evidence from voluntary contributions to a national park in Costa Rica. Journal of Public Economics, 92(5-6), 1047-1060.
Schubert, C. (2017). Green nudges: Do they work? Are they ethical?. Ecological economics, 132, 329-342.
Lecture 9: Digital Behavioural Economics and UX design
Caraban, A., Karapanos, E., Gonçalves, D., & Campos, P. (2019). 23 Ways to Nudge: A Review of Technology-Mediated Nudging in Human-Computer Interaction. Proceedings of the 2019 CHI Conference on Human Factors in Computing Systems, 1–15. https://doi.org/10.1145/3290605.3300733
Gray, C. M., Kou, Y., Battles, B., Hoggatt, J., & Toombs, A. L. (2018). The Dark (Patterns) Side of UX Design. Proceedings of the 2018 CHI Conference on Human Factors in Computing Systems, 1–14. https://doi.org/10.1145/3173574.3174108
Nudge, Dark Nudges, Sludge and Dealing with the Ethics of BE – BVA Nudge Unit. (n.d.). https://bvanudgeunit.com/nudge-dark-nudge-sludge-dealing-with-ethics-be/
Lecture 10: Behavioural Economics in the metaverse era
486.
Yee, N., & Bailenson, J. (2007). The Proteus Effect: The Effect of Transformed Self-Representation on Behavior. Human Communication Research, 33(3), 271–290. https://doi.org/10.1111/j.1468-2958.2007.00299.x
Yong, E. (2011). Out-of-body experience: Master of illusion. Nature News, 480(7376), 168. https://doi.org/10.1038/480168a
Lecture 11: Behavioral economic policy and implications
Cass R. Sunstein (2016), "Fifty Shades of Manipulation", Journal of Marketing Behavior: Vol. 1: No. 3-4, pp 213-244. http://dx.doi.org/10.1561/107.00000014
Bhanot, S. P., & Linos, E. (2020). Behavioral Public Administration: Past, Present, and Future. Public Administration Review, 80(1), 168–171. https://doi.org/10.1111/puar.13129
AL-UBAYDLI, O., LEE, M., LIST, J., MACKEVICIUS, C., & SUSKIND, D. (2021). How can experiments play a greater role in public policy? Twelve proposals from an economic model of scaling. Behavioural Public Policy, 5(1), 2-49. doi:10.1017/bpp.2020.17
DellaVigna, S., & Linos, E. (2020). RCTs to Scale: Comprehensive Evidence from Two Nudge Units (Working Paper No. 27594; Working Paper Series). National Bureau of Economic Research. https://doi.org/10.3386/w27594 |
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