14 160 - Experimental and Behavioral Economics

Institution:

Massachusetts Institute of Technology

Subject:

Description:

Introduces techniques of experimental economics and their applications. Emphasizes the relative role of field and lab experiments for the generation of empirical knowledge and the methodology of laboratory experiments. Students design and run their own experiments, testing their chosen hypothesis. Covers the economics of individual economic decisions and social interactions. Discusses experiments on behavioral contract theory, principal-agent theory, labor markets, and asset markets. Considers the extent to which experimental markets approximate the predictions of competitive models; which motivational forces drive cooperation and collective action; how we can best model social preferences; and the systematic behavioral deviations from the homo economicus model.

Credits:

4.00

Credit Hours:

Prerequisites:

Prereq: 14.122

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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