Credits: 15
Module Convenor: Dr Asen Ivanov
There is mounting evidence that people violate many of the "rationality" assumptions of mainstream economics. Behavioural Economics is a relatively new field that studies such violations and proposes theories to explain them. Key topics include the susceptibility of behaviour to "irrelevant" factors, biases in judgment under uncertainty, overconfidence, dynamic inconsistency, other-regarding preferences, fairness, and departures from the standard game-theoretic notion of Nash equilibrium.
There is an overlap of the content in this module and with Principles of Behavioural Economics and Behavioural Finance (ECOM145), students are therefore unable to take both modules.
Assessment: 80.0% Examination, 20.0% Coursework