Winter
2020-2021
Section
1
Location
TBD
Instructor
Timetable Entries
Tuesday
4:00 pm - 5:30 pm
Thursday
2:30 pm - 4:00 pm

In this course we will discuss basic theories and research findings on rational choice, drawing on research conducted by psychologists, economists and biologists. We will compare basic principles of rationality with actual choice behavior and illustrate how the way that we think about decision problems systematically deviates from rationality. We will also discuss factors that underlie systematic biases in human decision-making and “irrational” behavior (including emotions and social factors), “nudges” that utilize characteristics of the human choice architecture, and applications of JDM theories and results in various fields. Studying the principles of rational decision-making and systematic discrepancies with actual behavior is not only fascinating, it is actually practically useful, as it can help us to improve the quality of choices