Behavioral Economics

In this seminar we will study a range of psychological phenomena that affect economic behavior in individual and social settings. Particular emphasis will be placed on the relationship between psychology and economic theory, and the extent to which the study of economics can be improved by incorporating research on human emotions and bounded cognitive ability. A second point of emphasis will concern what the psychological-economic view of human motivation and behavior implies for debates over public policy. (ECON 0255 required; ECON 0380 strongly recommended) 3 hrs. sem.