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Behavioural Economics *

Name of module: Behavioural Economics *

Exam number: 6513

Semester/Trimester: Semester

Duration of the module: Ein Semester

Form of the module (i.e. obligatory, elective course): Wahlpflicht

Frequency of module offer: Winter semester 2009/2010, winter semester 2011/2012

Prerequisites: Kenntnisse in Mikroökonomik.

Applicability of module for other modules and study programmes:
Serviceveranstaltung für Masterstudierende der Kultur- bzw. Rechtswissenschaften.

Person responsible for module: Prof. Dr. Friedel Bolle

Name of the professor: Prof. Dr. Friedel Bolle

Language of teaching: Englisch

ECTS-Credits (based on the workload): 6 (E-Modul, S-Modul)

Workload and its composition (self-study, contact time):
Kontaktzeit (Vorlesung, Übung,Seminar etc.) 37,5 Std.; Selbststudium: 142,5 Std.

Contact hours (per week in semester): 3

Methods and duration of examination:
Es kann ein Leistungsnachweis erworben werden. Voraussetzung hierfür ist die erfolgreiche Teilnahme an der Klausur und die Übernahme eines Kurzreferats.

Emphasis of the grade for the final grade: 1/29 (E-Modul, S-Modul)

Aim of the module (expected learning outcomes and competencies to be acquired):
Eine kritische Auseinandersetzung mit der ökonomischen Standardtheorie und davon abweichenden Theorien.

Contents of the module:
This course studies economic behaviour grounded on the restictions of human information processing capacity. Individuals are „boundedly rational“ (e.g. they make mistakes, have imperfect memory or foresight). Individuals may have, and in turn display, concerns for the welfare of others (social preferences, i.e. emotions such as altruism, fairness, and reciprocity).Further, being part of a group (e.g. a team or society) can affect behaviour (e.g. through learning, social norms or discrimination). How would individuals behave, considering the above? To broadly answer this question, we look at a collection of theoretical suggestions and empirical evidence (esp. from economic and psychological experiments). In particular we will ask whether the normative theory of social decisions, game theory, is appropriate to describe group behaviour.
I. Preliminaries
II. Individual choice
III.Social preferences
IV. Extrinsic and intrinsic motivation
V. Bounded rationality
VI. Group processes: Game Theory and behaviour

Teaching and learning methods:
Lecture with tutorial

Literature (compulsory reading, recommended literature):
Antonides, Gerrit (1996) Psychology in economics and business: an introduction to economic psychology. Dordrecht, The Netherlands; Boston: Kluwer Academic Press.
Camerer, Colin (2003) Behavioral game theory: experiments in strategic interaction. New York: Princeton, NJ: Russell Sage Foundation; Princeton University Press.
Gigerenzer, G. and Selten, R. (Eds.) (2002) Bounded Rationality: The Adaptive Toolbox, Cambridge, MA; London: MIT Press.
Thaler, R. H. (1992): The Winner’s Curse – Paradoxes and Anomalies of Economic Life – A Russell Sage Foundation Book.

Further information:
Registration in Moodle required.
Chair's web page