Experimental Research and Behavioral Decision Making
Concepts in behavioral economics such as loss aversion, overconfidence, reciprocity, inequity aversion and lying costs are increasingly used to explain deviations from rational behavior in economic decisions. In this PhD course, basic models of behavioral economics and theories used to explain behavior that differs from standard economic assumptions are presented and imparted based on experimental studies. For this purpose, the essential methodological foundations of experimental economic research are introduced, anchored in scientific theory, and delimited from experimental research of neighboring disciplines. In the further course, experimental studies in particular from the fields of management research and business ethics will be extensively reviewed and discussed in order to present the concepts of behavioral economics and their effect on economic decisions. In order to directly apply the acquired knowledge, the participants will develop their own experimental design and instructions in small groups and present their work in plenary on the last day of the course. Furthermore, there will be an introduction to programming with oTree within several tutorials.
September 7 - 10, 2020
Warburger Strasse 100
Prof. Dr. René Fahr
Dr. Behnud Mir Djawadi