Universität Wien

040319 VO Economic Psychology (MA) (2024S)

4.00 ECTS (2.00 SWS), SPL 4 - Wirtschaftswissenschaften

Moodle

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).
Register/Deregister for this course

Details

Language: English

Examination dates

Lecturers

Classes (iCal) - next class is marked with N

  • Friday 01.03. 13:15 - 16:30 Hörsaal 4 Oskar-Morgenstern-Platz 1 Erdgeschoß
  • Friday 15.03. 13:15 - 14:45 Hörsaal 14 Oskar-Morgenstern-Platz 1 2.Stock
  • Friday 22.03. 13:15 - 14:45 Hörsaal 1 Oskar-Morgenstern-Platz 1 Erdgeschoß
  • Friday 12.04. 13:15 - 14:45 Hörsaal 1 Oskar-Morgenstern-Platz 1 Erdgeschoß
  • Friday 19.04. 13:15 - 14:45 Hörsaal 14 Oskar-Morgenstern-Platz 1 2.Stock
  • Friday 03.05. 13:15 - 16:30 Hörsaal 14 Oskar-Morgenstern-Platz 1 2.Stock
  • Friday 17.05. 13:15 - 16:30 Hörsaal 4 Oskar-Morgenstern-Platz 1 Erdgeschoß
  • Friday 24.05. 13:15 - 14:45 Hörsaal 4 Oskar-Morgenstern-Platz 1 Erdgeschoß
  • Friday 31.05. 13:15 - 14:45 Hörsaal 4 Oskar-Morgenstern-Platz 1 Erdgeschoß
  • Friday 07.06. 13:15 - 14:45 Hörsaal 4 Oskar-Morgenstern-Platz 1 Erdgeschoß
  • Friday 14.06. 13:15 - 16:30 Hörsaal 4 Oskar-Morgenstern-Platz 1 Erdgeschoß

Information

Aims, contents and method of the course

This lecture gives an introduction to economic psychology. 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 advance 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.

Assessment and permitted materials

Written exam in the classroom.
- 20 Points total
- 11 Points to pass

Minimum requirements and assessment criteria

Minimum 11 Points to pass.

Examination topics

PLEASE NOTE: IT IS NOT ENOUGH THAT YOU ARE SIGNED UP FOR THE COURSE. TOWARDS THE END OF THE SEMESTER, YOU MUST ALSO SIGN UP FOR AN EXAM DATE. WE CANNOT GRADE THOSE STUDENTS WHO DID NOT SIGN UP FOR THE EXAM.
Lectures
E-Learning (Moodle)

Reading list

Recommended but not mandatory (!!) readings will be announced in the lectures. These are mostly journal articles and book chapters that are nontrivial to process and hence, not required to read. However, the exam will not exceed the material from the slides. This means that you really need to understand what is on the slides. When, however, something is unclear please email me. I respond to your question asap and rediscuss the focal issue at the next class. Should it still be unclear, please ask for a personal appointment.

Association in the course directory

Last modified: We 31.07.2024 11:25