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 19 - Defaults, Nudges, and Frames |
In the first half of this video, Prof. Schilbach continues the discussion on gender from lecture 18. He then transitions to talk about non-standard decision-making, specifically defaults, nudges, and frames.
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