Economics 119: Psychology and Economics (Fall 2013, UC Berkeley): Lecture 03

Economics 119: Psychology and Economics

Economics 119: Psychology and Economics (Fall 2013, UC Berkeley). Instructor: Professor Daniel J. Acland. This course presents psychological and experimental economics research demonstrating departures from perfect rationality, self-interest, and other classical assumptions of economics and explores ways that these departures can be mathematically modeled and incorporated into mainstream positive and normative economics. The course will focus on the behavioral evidence itself, especially on specific formal assumptions that capture the findings in a way that can be incorporated into economics. The implications of these new assumptions for theoretical and empirical economics will be explored.

Lecture 03 - Reference Dependent Preferences

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Lecture 01 - Introduction

Lecture 02 - Hicksian Utility Theory and the Endowment Effect

Lecture 03 - Reference Dependent Preferences

Lecture 04 - Normative Implications of Reference Dependence

Lecture 05 - Reference Dependence in Consumer and Labor Markets

Lecture 06 - Reference Point Determination

Lecture 07 - Applications of Reference Dependence

Lecture 08 - Exponential Discounting Theory and Anomalies

Lecture 09 - Present-Biased Preferences and Quasi-Hyperbolic Discounting

Lecture 10 - Beliefs about Future Intertemporal Preferences