14 13 - Economics and Psychology

Institution:

Massachusetts Institute of Technology

Subject:

Description:

Introduction to theoretical and empirical literature in the new field of behavioral economics. Examines important and systematic departures from the predictions of the standard model in economics; covers intertemporal tradeoffs, risk preferences, social preferences, and intrinsic motivation; and applies theory to many different areas, such as credit card debt, addiction, portfolio choices, labor supply, and compensation policies of firms. Students review evidence from lab experiments, examine how the results can be integrated into models, and test models using field and lab data.

Credits:

4.00

Credit Hours:

Prerequisites:

Prereq: 14.03

Corequisites:

Exclusions:

Level:

Instructional Type:

Lecture

Notes:

Additional Information:

Historical Version(s):

Institution Website:

web.mit.edu/student/

Phone Number:

(617) 253-1000

Regional Accreditation:

New England Association of Schools and Colleges

Calendar System:

Four-one-four plan

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