Universität Wien
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040319 VO Economic Psychology (2023W)

(MA)

4.00 ECTS (2.00 SWS), SPL 4 - Wirtschaftswissenschaften
ON-SITE

Moodle

Registration/Deregistration

Note: The time of your registration within the registration period has no effect on the allocation of places (no first come, first served).
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Details

Language: English

Examination dates

Lecturers

Classes (iCal) - next class is marked with N

  • Wednesday 04.10. 11:30 - 13:00 Hörsaal 14 Oskar-Morgenstern-Platz 1 2.Stock
  • Wednesday 11.10. 11:30 - 13:00 Hörsaal 14 Oskar-Morgenstern-Platz 1 2.Stock
  • Wednesday 18.10. 11:30 - 13:00 Hörsaal 14 Oskar-Morgenstern-Platz 1 2.Stock
  • Wednesday 25.10. 11:30 - 13:00 Hörsaal 14 Oskar-Morgenstern-Platz 1 2.Stock
  • Wednesday 08.11. 11:30 - 13:00 Hörsaal 14 Oskar-Morgenstern-Platz 1 2.Stock
  • Wednesday 15.11. 11:30 - 13:00 Digital
  • Wednesday 22.11. 11:30 - 13:00 Hörsaal 14 Oskar-Morgenstern-Platz 1 2.Stock
  • Wednesday 29.11. 11:30 - 13:00 Digital
  • Wednesday 06.12. 11:30 - 13:00 Hörsaal 14 Oskar-Morgenstern-Platz 1 2.Stock
  • Wednesday 13.12. 11:30 - 13:00 Hörsaal 14 Oskar-Morgenstern-Platz 1 2.Stock
  • Wednesday 10.01. 11:30 - 13:00 Hörsaal 14 Oskar-Morgenstern-Platz 1 2.Stock
  • Wednesday 17.01. 11:30 - 13:00 Hörsaal 14 Oskar-Morgenstern-Platz 1 2.Stock
  • Wednesday 24.01. 11:30 - 13:00 Hörsaal 14 Oskar-Morgenstern-Platz 1 2.Stock
  • Wednesday 31.01. 13:15 - 14:45 Hörsaal 14 Oskar-Morgenstern-Platz 1 2.Stock

Information

Aims, contents and method of the course

This lecture gives an introduction to economic psychology. We cover:
1. The development of economic thought with respect to psychology: Difference between economic psychology and behavioral economics. In what aspect does psychology inform economics, historical milestones in the development of economics with respect to behavioral/psychological insights.
2. How preferences and values are constructed: Psychological approaches advance the idea that preferences are constructed on the spot and are susceptible to context, circumstances that give fertile ground for constructed preferences, regularities of constructed preferences, decoy and compromise effects, coherent arbitrariness.
3. The decision under uncertainty and ambiguity aversion: Prospect theory, Ellsberg-paradox, and their consequences in judgment and decision-making.
4. Choice over time: Challenges of standard discounted utility and their remedies. Hyperbolic discounting, present-biased behavior. Dynamic inconsistency. Self-control.
5. (Mis)predicting future taste and utility: Regularities in people’s inability to correctly predict their future preferences and tastes and the practical and daily consequences of these behaviors.
6. Choice architecture: An overview of behaviorally informed public policy. Rationales and tools for interventions rely on behavioral regularities. Reviewing some basic success in using nudges to beneficially change behavior.

Assessment and permitted materials

The exam will be closed-book in the classroom. You will get a 10-item, multiple-choice test with one answer correct. Plus, you will get two open questions to elaborate on a maximum of 1 page/question.
- 20 Points total
- 11 Points to pass
PLEASE NOTE: IT IS NOT ENOUGH THAT YOU ARE SIGNED UP FOR THE COURSE. TOWARDS THE END OF THE SEMESTER, YOU MUST ALSO SIGN UP FOR AN EXAM DATE. WE CAN NOT GRADE THOSE STUDENTS WHO DID NOT SIGN UP FOR THE EXAM.
Lectures
E-Learning (Moodle)

Minimum requirements and assessment criteria

You need 11 points to pass.

Examination topics

Course slides. Therefore it is highly recommended that you attend class even though it is not mandatory.

Reading list

Recommended but not mandatory (!!) readings will be announced in the lectures. These are mostly journal articles and book chapters that are nontrivial to process and hence, not required to read. However, the exam will not exceed the material from the slides. This means that you really need to understand what is on the slides. When, however, something is unclear please email me. I respond to your question asap and rediscuss the focal issue at the next class. Should it still be unclear, please ask for a personal appointment.

Association in the course directory

Last modified: Fr 16.02.2024 17:05