2109MS07

Experimental Research and Behavioral Decision Making

Various robust deviations from rational decision making have been reported such as loss aversion, probability weighting, status quo bias, overconfidence etc. Understanding those deviations leads to a more realistic modelling of the behavior of different economic actors and to an increased prediction success. In this course, participants will understand those and other important deviations from rationality as well as their theoretical explanations/modelling, e.g., prospect theory and mental accounting. Most theories have been developed implementing psychological and economic experiments. Whereas psychological experiments are mostly asking the respondents for hypothetical choices, real decisions with actual monetary payoffs are implemented in economic experiments. Half of the course will be concerned with a profound introduction to the several deviations from rationality that have been reported with real decision makers and with the theoretical treatment of those deviations. The other half of the course will deal with different types of experiments and different experimental designs as well as the matching of research question and type of empirical method to be used.

 

Date:

21. - 24. September 2021
 

Location:

Humboldt-Universität zu Berlin
Wirtschaftswissenschaftliche Fakultät
Spandauer Straße 1
10178 Berlin

 

Course Language:

English

Lecturer:

Prof. Dr. Christian D. Schade
Humboldt-Universität zu Berlin

Registration:

 

Click for information on fees, payment and registration,

or email us: prodok@vhbonline.org.

 

Registration Deadline: 22. August 2021