Prof Paul Dolan QUE.3.08

This course is available on the MPA Dual Degree (LSE and Columbia), MPA Dual Degree (LSE and Hertie), MPA Dual Degree (LSE and NUS), MPA Dual Degree (LSE and Sciences Po), MPA Dual Degree (LSE and Tokyo), MPA in International Development, MPA in Public Policy and Management, MPA in Public and Economic Policy, MPA in Public and Social Policy, MPA in Social Impact, MSc in Environmental Economics and Climate Change, MSc in Organisational and Social Psychology, MSc in Psychology of Economic Life, MSc in Social Policy (Research), MSc in Social and Cultural Psychology, MSc in Social and Public Communication and Master of Public Administration. This course is available as an outside option to students on other programmes where regulations permit.

This course is available as an outside option to students on other programmes where regulations and room sizes permit.

This is a capped course.  In teaching Week 1 places will be allocated to students from the Department of Psychological and Behavioural Science on a first come first served basis.  At the start of Week 2 any remaining places will be allocated to students from other departments, again on a first come first served basis.

This course aims to introduce students to the main concepts and tools of behavioural science. To achieve this aim, the course is based around ten lectures covering: 1) what is behavioural science?; 2) choices under risk and uncertainty; 3) intertemporal decisions; 4) social and moral preferences; 5) biases and heuristics and rules of thumb; 6) the role of emotions in decision making; 7) dual-process models of behaviour; 8) the power of nudges; 9) compensating behaviours; 10) ethical considerations.

10 hours of lectures and 10 hours of seminars in the MT.

There are ten topics, and the seminars allow for in depth discussion and analysis of the issues raised in the lectures.

Students will be expected to produce 1 essay (1000 words) in the MT.

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

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

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

Dolan P, Hallsworth M, Halpern D, King D, Metcalfe R, Vlaev I, Influencing behaviour: the mindspace way, Journal of Economic Psychology, 33, 1, 264-277, 2012.

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

Essay (100%, 2500 words) in the LT.