This course provides an introduction into behavioral economics. It takes into account that individual preferences are considerably more extensive than often assumed and can contain aspects such as altruism or reciprocity. We also discuss why time-inconsistent behavior (for example leading to procrastination) is often observed and why reference points are important to evaluate outcomes.
Subject
Social preferences
Prospect theory and reference points
Time inconsistent preferences and present bias
Criteria for evaluation
Final exam
Methods
Lecture and discussions, experiments
Language
English
Study material
Handouts
Changing subject?
No
Corresponding lecture
(*)572AECOPOEK14: KS Psychologie und Ökonomie (3 ECTS)
