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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 08 - Risk Preferences II

This lecture continues the discussion of risk preferences, and delves into reference-dependent preferences, an alternative model to expected utility.

Go to the Course Home or watch other lectures:

Lecture 01 - Introduction and Overview I

Lecture 02 - Introduction and Overview II

Lecture 03 - Time Preferences (Theory) I

Lecture 04 - Time Preferences (Theory) II

Lecture 05 - Time Preferences (Applications) I

Lecture 06 - Time Preferences (Applications) II

Lecture 07 - Risk Preferences I

Lecture 08 - Risk Preferences II

Lecture 09 - Reference-Dependent Preferences

Lecture 10 - Social Preferences I

Lecture 11 - Social Preferences II

Lecture 12 - Social Preferences III

Lecture 13 - Social Preferences IV

Mid-Term Review

Lecture 14 - Limited Attention

Lecture 15 - Utility from Beliefs; Learning I

Lecture 16 - Utility from Beliefs; Learning II

Lecture 17 - State-Dependent Preferences, Protection, and Attribution Bias

Lecture 18 - Gender, Discrimination, and Identity

Lecture 19 - Defaults, Nudges, and Frames

Lecture 20 - Malleability and Inaccessibility of Preferences

Lecture 21 - Poverty through the Lens of Psychology

Lecture 22 - Happiness and Mental Health

Lecture 23 - Policy with Behavioral Agents