This module introduces students to behavioural and experimental economics. The assumptions of “homo economicus” – the traditionally economically rational agent – are relaxed and more behaviourally realistic models of decision making are introduced. The course will cover important behavioural topics of individual and strategic decision making. We will introduce practical examples of experimental design and incentivisation, and experimental data analysis.
Learning Outcomes
By the end of the module students should be able to:
explain behavioural economic accounts of individual and strategic decision making;
discuss different experimental paradigms in economics;
identify strengths and weaknesses of experimental designs and incentive structures;
produce experimental designs to test behavioural economic hypotheses.