MGT 450B - Strategic Design and Decision Making

Institution:

Washington University in St Louis

Subject:

Description:

Behavioral Economics is a tool for formulating government policy and firm strategy. While early work in Behavioral Economics could be classified as “parlor tricks,” recent work in “choice architecture” has inverted those insights to solve problems eluded by incentive design. Surveys the key behavioral anomalies causing individual and firm decisions to deviate from those in their best interest. In general, each session is organized around a single anomaly, and includes an in-class exercise and/or case evoking it in a real world setting. We also discuss the underlying theory (contrasting the behavior with that predicted by classical economics) with the broader applications of the anomaly and implications for strategic decisions. Prerequisite: MGT 100. Same as B63 550P

Credits:

1.50

Credit Hours:

Prerequisites:

Corequisites:

Exclusions:

Level:

Instructional Type:

Lecture

Notes:

Additional Information:

Historical Version(s):

Institution Website:

www.wustl.edu

Phone Number:

(314) 935-5000

Regional Accreditation:

North Central Association of Colleges and Schools

Calendar System:

Semester

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