14.13 Psychology and Economics
14.13 Psychology and Economics (Spring 2020, MIT OCW). Instructor: Prof. Frank Schilbach. Psychology and Economics (aka Behavioral Economics) is a growing subfield of economics that incorporates insights from psychology and other social sciences into economics. This course covers recent advances in behavioral economics by reviewing some of the assumptions made in mainstream economic models, and by discussing how human behavior systematically departs from these assumptions. Applications will cover a wide range of fields, including labor and public economics, industrial organization, health economics, finance, and development economics. (from ocw.mit.edu)
| Lecture 05 - Time Preferences (Applications) I |
In this lecture, Prof. Schilbach discusses the ways that quasi-hyperbolic discounting has many real-world applications for work, exercising, credit cards, drinking, and smoking, among others.
Go to the Course Home or watch other lectures: