Behavioural Economics | Jean-Christophe Spiliotis

Behavioural Economics

One of the most fascinating paradoxes of behavioural economics is its ambivalent relationship with the rest of economic theory. On the one hand, by describing and conceptualizing how human decisions depart from rationality, behaviourists place themselves at the forefront of the critique of neoclassical economics. On the other hand, behavioural economics remain largely indebted to rational decision theorists, who long before sought to improve the realism of their models. This course therefore begins with an overview of neoclassical decision theory, including empirical applications and measurement. This allows to explore its legacy and its points of clash with modern behavioural economics and economic psychology.

1. Neoclassical decision theory: risk and time preferences

2. Social preferences

3. From neoclassical to behavioral economics

4. Topics in economic psychology