Prof Paul Dolan OLD.2.38

This course is compulsory on the Executive MSc in Behavioural Science. This course is not available as an outside option.

This course aims to introduce students to the main concepts and tools of the growing fields of behavioural science. The course covers the following topics: What is behavioural science?; Choices under risk and uncertainty; Intertemporal decisions; Social preferences; Distributional preferences; The role of emotions in decision making; Compensating behaviours; Dual-process models of behaviour and the role of the unconscious mind; Dual processing into policy.

17 hours and 30 minutes of lectures and 5 hours of seminars in the MT.

Students will be expected to produce 1 piece of coursework in the MT.

Camerer, C.F., and Loewenstein, G. (2004). Behavioral economics: past, present, future. In Camerer, C.F. and Loewenstein, G. (eds.), Advances in behavioral economics, pp. 374-392. New York: Russell Sage Foundation.

Weber, E.U., and Johnson, E.J. (2009). Mindful judgment and decision making. Annual Review of Psychology, 60, 53-85.

Rabin, M. (1998). Psychology and Economics. Journal of Economic Literature, 36, 11-46.

Camerer, C.F. (1995). Individual decision making. In Kagel, J.H. and Roth, A.E. (eds.), The handbook of experimental economics, pp. 587-703. Princeton: Princeton University Press.

Loewenstein, G., Weber, E.U., Hsee, C.K., and Welch, N. (2001). Risk as feelings. Psychological Bulletin, 127, 267-286.

Thaler, R. and Sunstein, C. (2003) Libertarian paternalism, American Economic Review, 93, 2, 175-179.

Essay (40%, 2000 words) and take home exam (60%) in the MT.