Universität Wien FIND

040319 VO Economic Psychology (2020W)


4.00 ECTS (2.00 SWS), SPL 4 - Wirtschaftswissenschaften


Hinweis: Ihr Anmeldezeitpunkt innerhalb der Frist hat keine Auswirkungen auf die Platzvergabe (kein "first come, first served").


Sprache: Englisch



Termine (iCal) - nächster Termin ist mit N markiert

Montag 05.10. 09:45 - 11:15 Digital
Montag 12.10. 09:45 - 11:15 Digital
Montag 19.10. 09:45 - 11:15 Digital
Montag 09.11. 09:45 - 11:15 Digital
Montag 16.11. 09:45 - 11:15 Digital
Montag 23.11. 09:45 - 11:15 Digital
Montag 30.11. 09:45 - 11:15 Digital
Montag 07.12. 09:45 - 11:15 Digital
Montag 14.12. 09:45 - 11:15 Digital
Montag 11.01. 09:45 - 11:15 Digital
Montag 18.01. 09:45 - 11:15 Digital


Ziele, Inhalte und Methode der Lehrveranstaltung

This lecture gives an introduction to economic psychology. In 2020W, the course will go online. In particular, I will send out slides with audio recordings for every class and create a Moodle forum where we can post comments, questions, and answers. Should you need more elaboration on a question, we can make in-person meetings or skype calls. We cover:
1. The development of economic thought with respect to psychology: Difference between economic psychology and behavioral economics. In what aspect psychology informs economics, historical milestones in the development of economics with respect to behavioral/psychological insights.
2. How preferences and values are constructed: Psychological approaches advancing the idea that preferences are constructed on the spot and are susceptible to context, circumstances that give fertile ground for constructed preferences, regularities of constructed preferences, decoy and compromise effects, coherent arbitrariness.
3. The decision under uncertainty and ambiguity aversion: Prospect theory, Ellsberg-paradox, and their consequences in judgment and decision-making.
4. Choice over time: Challenges of standard discounted utility and their remedies. Hyperbolic discounting, present-biased behavior. Dynamic inconsistency. Self-control.
5. (Mis)predicting future taste and utility: Regularities in people’s inability to correctly predict their future preferences and tastes and the practical and daily consequences of these behaviors.
6. Choice architecture: An overview of behaviorally informed public policy. Rationales and tools for interventions relying on behavioral regularities. Reviewing some basic success on using nudges to beneficially change behavior.

Art der Leistungskontrolle und erlaubte Hilfsmittel

Digital or written exams in classroom, depending on the regulations in January, 2021.
- 20 Points total
- 11 Points to pass

Mindestanforderungen und Beurteilungsmaßstab


Course slides


I have posted a detailed course description on Moodle including the recommended readings.

Zuordnung im Vorlesungsverzeichnis

Letzte Änderung: Fr 12.05.2023 00:12