040025 KU Thinking, Predicting and good Decision-Making (MA) (2022S)

The course aims to provide students with a grounding in the main areas of behavioral economics, by focusing on behavioral biases in individual preferences, belief updating, choice contexts, and their implications in practice. These main areas include biases in decision-making under risk and uncertainty, intertemporal decision-making, information processing, and some de-biasing methods include libertarian paternalism and wisdom of the crowd. For each area, the focus will be on three points: (i) introduce the biases from experimental or field evidence; (2) biases compared to what and its practical implications in fields include marketing, charity, and health. (2) de-bias methods.