14.131 Psychology and Economics
Introduces the theoretical and empirical literature of behavioral economics. Examines important and systematic departures from the standard models in economics by incorporating insights from psychology and other social sciences. Covers theory and evidence on time, risk, and social preferences; beliefs and learning; emotions; limited attention; and frames, defaults, and nudges. Studies applications to many different areas, such as credit card debt, procrastination, retirement savings, addiction, portfolio choice, poverty, labor supply, happiness, and government policy. Students participate in surveys and experiments in class, review evidence from lab experiments, examine how the results can be integrated into models, and test models using field and lab data. Students taking graduate version complete additional assignments.
This class has 14.01 as a prerequisite.
14.131 will not be offered this semester. It will be available in the Spring semester, and will be instructed by F. Schilbach.
This class counts for a total of 12 credits. This is a graduate-level class.
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