Decision Theory and Behavioural Economics
A.Y. 2018/2019
Learning objectives
The aim of this course is first to provide a grounding in the area of decision under risk adopting standard economic models. Using experimental evidence that shows how such models may miss some important features of decision making, the course will then present models that have been developed to reconcile the theory with the experimental evidence.
Expected learning outcomes
Undefined
Lesson period: First trimester
Assessment methods: Esame
Assessment result: voto verbalizzato in trentesimi
Single course
This course cannot be attended as a single course. Please check our list of single courses to find the ones available for enrolment.
Course syllabus and organization
Single session
Responsible
Lesson period
First trimester
ATTENDING STUDENTS
Course syllabus
NON-ATTENDING STUDENTS
Objective and Subjective Uncertainty
Expected utility theory
Risk Aversion, certainty equivalent, risk premium.
Measurement of Risk Attitudes: Theory (Arrow-Pratt etc.)
Measurement of Risk Attitudes: Experiment (Comparison, Gender)
Risk and returns: stochastic dominance
State dependent utility
Expected utility: violations and paradoxes
Perception of probabilities: Probability weighting
(Cumulative) Prospect Theory
Reference dependent preferences
Time preferences and hyperbolic discounting,
Impulsivity
Self-Control and Temptation a la Gul-Pesendorfer
Myopic Loss Aversion
Assets and Bubbles
Disposition Effect
Expected utility theory
Risk Aversion, certainty equivalent, risk premium.
Measurement of Risk Attitudes: Theory (Arrow-Pratt etc.)
Measurement of Risk Attitudes: Experiment (Comparison, Gender)
Risk and returns: stochastic dominance
State dependent utility
Expected utility: violations and paradoxes
Perception of probabilities: Probability weighting
(Cumulative) Prospect Theory
Reference dependent preferences
Time preferences and hyperbolic discounting,
Impulsivity
Self-Control and Temptation a la Gul-Pesendorfer
Myopic Loss Aversion
Assets and Bubbles
Disposition Effect
Course syllabus
Objective and Subjective Uncertainty
Expected utility theory
Risk Aversion, certainty equivalent, risk premium.
Measurement of Risk Attitudes: Theory (Arrow-Pratt etc.)
Measurement of Risk Attitudes: Experiment (Comparison, Gender)
Risk and returns: stochastic dominance
State dependent utility
Expected utility: violations and paradoxes
Perception of probabilities: Probability weighting
(Cumulative) Prospect Theory
Reference dependent preferences
Time preferences and hyperbolic discounting,
Impulsivity
Self-Control and Temptation a la Gul-Pesendorfer
Myopic Loss Aversion
Assets and Bubbles
Disposition Effect
Expected utility theory
Risk Aversion, certainty equivalent, risk premium.
Measurement of Risk Attitudes: Theory (Arrow-Pratt etc.)
Measurement of Risk Attitudes: Experiment (Comparison, Gender)
Risk and returns: stochastic dominance
State dependent utility
Expected utility: violations and paradoxes
Perception of probabilities: Probability weighting
(Cumulative) Prospect Theory
Reference dependent preferences
Time preferences and hyperbolic discounting,
Impulsivity
Self-Control and Temptation a la Gul-Pesendorfer
Myopic Loss Aversion
Assets and Bubbles
Disposition Effect
SECS-P/02 - ECONOMIC POLICY - University credits: 6
Practicals: 40 hours
Lessons: 20 hours
Lessons: 20 hours
Professor:
Filippin Antonio
Professor(s)