Code:

BERMAMC004

Study year:

2007-2008

Long name:

Behavioural Decision Theory

ECTS:

5

Language:

English

Lecturer(s):

Prof. dr. S. van Osselaer

Contact person:

Prof. dr. S. van Osselaer

Coordinator:

Prof. dr. S. van Osselaer

Faculty:

RSM Erasmus University

Number of lectures:

10

Hours per lecture:

3

Goal:

This course is designed to familiarize Research Master’s and PhD students with a wide variety of issues in the domain of behavioural decision theory. The aim is to expose students from various areas of specialisation to experimental research on how people (e.g., managers, consumers, investors,...) make decisions. In addition to providing students with basic knowledge in various areas of behavioural decision theory, students will also get acquainted with the methods and paradigms used in the area. The course will also be designed to help students develop their own research ideas.

Students will be evaluated based on their participation in class (30% of the total class grade, includes presentations of papers in class), on one original research proposal (30%), and on a closed-book exam at the end of the course (40%).

A typical class will consist of a discussion of that day's readings. Our focus will not be on detecting flaws in previous research but rather on integrating and creatively extending it. Consequently, students will need to think deeply about the assigned papers.

Course contents:

I plan to address the following topics:

- Expected utility theory and prospect theory

- Heuristics and biases

- Comparisons and regret

- Framing and fairness

- Dual Processes and consciousness

- Decisions over time and self-control

- The role of emotion in decision making

- The role of learning and memory in decision making

- Neurological bases of decision making

- Rationality and remediation, free choice

(Some of these topics may change)

Examination:

- Contribute to the discussion of the assigned papers

- Present a papers to the rest of the class

- Write a research proposal due at the end of the course

- Closed-book exam at the end of the course testing your knowledge of papers discussed

Literature:

Academic articles