Decision theory and behavioural economics
A.A. 2018/2019
Obiettivi formativi
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.
Risultati apprendimento attesi
Non definiti
Periodo: Primo trimestre
Modalità di valutazione: Esame
Giudizio di valutazione: voto verbalizzato in trentesimi
Corso singolo
Questo insegnamento non può essere seguito come corso singolo. Puoi trovare gli insegnamenti disponibili consultando il catalogo corsi singoli.
Programma e organizzazione didattica
Edizione unica
Responsabile
Periodo
Primo trimestre
STUDENTI FREQUENTANTI
Programma
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
Prerequisiti
Microeconomics; Quantitative methods.
The exam consists of mutiple choice questions, one open question, and two exercises.
The exam consists of mutiple choice questions, one open question, and two exercises.
Materiale di riferimento
STUDENTI NON FREQUENTANTI
The course will be based mainly on academic papers.
Useful textbook for part of the course (but that I do not suggest to buy in advance) are:
"Notes on the Theory of Choice" by David Kreps
"Advances in Behavioral Economics'' by Colin Camerer, George Loewenstein and Matthew Rabin
"Microeconomics" by Andreu Mas-Colell, Michael D. Whinston, and Jerry R. Green
Useful textbook for part of the course (but that I do not suggest to buy in advance) are:
"Notes on the Theory of Choice" by David Kreps
"Advances in Behavioral Economics'' by Colin Camerer, George Loewenstein and Matthew Rabin
"Microeconomics" by Andreu Mas-Colell, Michael D. Whinston, and Jerry R. Green
Programma
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
Prerequisiti
Microeconomics; Quantitative methods.
The exam consists of mutiple choice questions, one open question, and two exercises.
The exam consists of mutiple choice questions, one open question, and two exercises.
Materiale di riferimento
The course will be based mainly on academic papers.
Useful textbook for part of the course (but that I do not suggest to buy in advance) are:
"Notes on the Theory of Choice" by David Kreps
"Advances in Behavioral Economics'' by Colin Camerer, George Loewenstein and Matthew Rabin
"Microeconomics" by Andreu Mas-Colell, Michael D. Whinston, and Jerry R. Green
Useful textbook for part of the course (but that I do not suggest to buy in advance) are:
"Notes on the Theory of Choice" by David Kreps
"Advances in Behavioral Economics'' by Colin Camerer, George Loewenstein and Matthew Rabin
"Microeconomics" by Andreu Mas-Colell, Michael D. Whinston, and Jerry R. Green
SECS-P/02 - POLITICA ECONOMICA - CFU: 6
Esercitazioni: 40 ore
Lezioni: 20 ore
Lezioni: 20 ore
Docente:
Filippin Antonio
Docente/i
Ricevimento:
Nell'a.a. 2024/25 il docente è in sabbatico. Il ricevimento è sospeso
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