Universität Wien

040122 KU Topics in Behavioral and Experimental Economics (MA) (2024W)

8.00 ECTS (4.00 SWS), SPL 4 - Wirtschaftswissenschaften
Continuous assessment of course work
Moodle
Th 12.12. 11:30-13:00 Hörsaal 3 Oskar-Morgenstern-Platz 1 Erdgeschoß

Registration/Deregistration

Note: The time of your registration within the registration period has no effect on the allocation of places (no first come, first served).

Details

max. 50 participants
Language: English

Lecturers

Classes (iCal) - next class is marked with N

  • Tuesday 01.10. 16:45 - 18:15 Hörsaal 7 Oskar-Morgenstern-Platz 1 1.Stock
  • Thursday 03.10. 11:30 - 13:00 Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
  • Tuesday 08.10. 16:45 - 18:15 Hörsaal 7 Oskar-Morgenstern-Platz 1 1.Stock
  • Thursday 10.10. 11:30 - 13:00 Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
  • Tuesday 15.10. 16:45 - 18:15 Hörsaal 7 Oskar-Morgenstern-Platz 1 1.Stock
  • Thursday 17.10. 11:30 - 13:00 Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
  • Tuesday 22.10. 16:45 - 18:15 Hörsaal 7 Oskar-Morgenstern-Platz 1 1.Stock
  • Thursday 24.10. 11:30 - 13:00 Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
  • Tuesday 29.10. 16:45 - 18:15 Hörsaal 7 Oskar-Morgenstern-Platz 1 1.Stock
  • Thursday 31.10. 11:30 - 13:00 Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
  • Tuesday 05.11. 16:45 - 18:15 Hörsaal 7 Oskar-Morgenstern-Platz 1 1.Stock
  • Thursday 07.11. 11:30 - 13:00 Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
  • Tuesday 12.11. 16:45 - 18:15 Hörsaal 7 Oskar-Morgenstern-Platz 1 1.Stock
  • Thursday 14.11. 11:30 - 13:00 Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
  • Tuesday 19.11. 16:45 - 18:15 Hörsaal 7 Oskar-Morgenstern-Platz 1 1.Stock
  • Thursday 21.11. 11:30 - 13:00 Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
  • Tuesday 26.11. 16:45 - 18:15 Hörsaal 7 Oskar-Morgenstern-Platz 1 1.Stock
  • Thursday 28.11. 11:30 - 13:00 Hörsaal 3 Oskar-Morgenstern-Platz 1 Erdgeschoß
  • Tuesday 03.12. 16:45 - 18:15 Hörsaal 7 Oskar-Morgenstern-Platz 1 1.Stock
  • Thursday 05.12. 11:30 - 13:00 Hörsaal 3 Oskar-Morgenstern-Platz 1 Erdgeschoß
  • Tuesday 10.12. 16:45 - 18:15 Hörsaal 7 Oskar-Morgenstern-Platz 1 1.Stock
  • Tuesday 17.12. 16:45 - 18:15 Hörsaal 7 Oskar-Morgenstern-Platz 1 1.Stock
  • Tuesday 07.01. 16:45 - 18:15 Hörsaal 7 Oskar-Morgenstern-Platz 1 1.Stock
  • Thursday 09.01. 11:30 - 13:00 Hörsaal 3 Oskar-Morgenstern-Platz 1 Erdgeschoß
  • Tuesday 14.01. 16:45 - 18:15 Hörsaal 7 Oskar-Morgenstern-Platz 1 1.Stock
  • Thursday 16.01. 11:30 - 13:00 Hörsaal 3 Oskar-Morgenstern-Platz 1 Erdgeschoß
  • Tuesday 21.01. 16:45 - 18:15 Hörsaal 7 Oskar-Morgenstern-Platz 1 1.Stock
  • Thursday 23.01. 11:30 - 13:00 Hörsaal 3 Oskar-Morgenstern-Platz 1 Erdgeschoß
  • Tuesday 28.01. 16:45 - 18:15 Hörsaal 7 Oskar-Morgenstern-Platz 1 1.Stock
  • Thursday 30.01. 11:30 - 13:00 Hörsaal 3 Oskar-Morgenstern-Platz 1 Erdgeschoß

Information

Aims, contents and method of the course

Behavioral and experimental economics is a vibrant field of research. Behavioral Economics combines elements of economic analysis with insights from psychology and related fields to better understand how people behave the way they do and why, ultimately to better understand how markets and economies work. Experimental economics refers to the use of controlled experiments as a method of investigation.
The aim of this course is to critically discuss new developments in the field of behavioral and experimental economics. Students will discover different topics at the research frontier and will learn how to critically assess current research. Students will also have a chance to practice their presentation and writing skills.
We will read and discuss papers that broadly fall into one of the two following categories.
Decision-making under risk and uncertainty: Many of the papers we will discuss contribute in one way or another to the quest for alternative models to expected utility theory that better describe human behavior. We will explore recent theoretical developments and experimental findings touching on the role of bounded rationality, emotions, salience, and cognitive uncertainty. We will also explore recent research that studies several different aspects of decision making under risk from different angles. Possible questions include: Do people have a preference to randomize choices, and why? How is risk taking affected when people have to make decisions that impact the wellbeing of others? How do people make decisions when they have to learn about different available causes of action? Can we reliably elicit risk preferences in the lab that predict behavior in the real world?
Merit, fairness, luck and (just) dessert: We explore research on a number of related and intertwined issues that have important consequences for how we organize societies. What are people’s views about who is worthy of rewards (dessert), and who of punishment? How are these views shaped by external circumstances, luck, skill, effort, etc.? How do these views interact with and shape preferences about distribution and different economic and incentive systems? We will touch on topics related to fairness, social preferences and reciprocity, but also on how people draw inference in an uncertain world where it is sometimes difficult to distinguish the deserving from the lucky.

Assessment and permitted materials

We will discuss academic papers during the meetings. Each student selects one (or more) paper from a list of suggested readings and provides a short presentation (15-20 minutes) summarizing the paper during one of the meetings. We then discuss questions of methodology, context and interpretation, relevance, technical details, etc. To jumpstart the discussion, another student provides a quick discussion (5 minutes) that critically assesses the strengths and weaknesses of the paper and provides discussion points, highlights open questions, etc.
I will propose a list of readings. During the first meeting, I will provide an overview of the papers and we determine the reading list. It is therefore important that you participate in the first meeting.
We will discuss grading in the first lecture, but grading will likely be based on three elements along the following lines.
1) Presentation of a paper and discussion.
2) Participation in classroom discussions and attendance.
3) Something written. This can be either (a) a term paper that summarizes (1 page) and critically assesses (3 pages, add your own ideas and thoughts) a paper from the reading list. If you want to dig deeper, (b) a research proposal (4-5 pages).
If you receive a passing grade in all three elements, you pass the course.

Minimum requirements and assessment criteria

Basic knowledge of game theory and microeconomics is desirable. While some knowledge in experimental and behavioral economics is also helpful, interest in one of those two areas will be sufficient.

Examination topics

There will be no exam or midterm. Students will be required to read the papers we discuss in class.

Reading list

We will discuss and determine the reading list during the first meeting. You can find a provisional list of proposed readings here: https://sites.google.com/view/moritzloewenfeld/teaching

Association in the course directory

Last modified: Tu 29.10.2024 11:25