EXPERIMENTAL AND BEHAVIOURAL ECONOMICS
Obiettivi formativi
This course is a follows a practical research approach to experimental and behavioral economics and is thus intended to:
1. expose you to a diverse range of experimental economics research papers 2. teach you how to think of economic problems from the perspective of empirical science.
3. provide you with a knowledge to come up with, design, and conduct experiments.
Risultati di apprendimento attesi
KNOWLEDGE AND UNDERSTANDING: The student will be able to analyze and understand the main issues described during the course.
APPLYING KNOWLEDGE AND UNDERSTANDING: At the end of the course, the student must be able to use the tools to carry out lab and web experiments.
MAKING JUDGEMENTS: The student will acquire the ability to evaluate in an autonomous way experiments on selected topics.
COMMUNICATION SKILLS: The student will acquire the specific language in order to communicate precisely the concepts learned.
LEARNING SKILLS: The student will learn the methodology of analysis of the main problems related to experimental and behavioral issues.
Contenuti Del Corso
This course introduces students to the methods of Experimental Economics and includes applications to behavioral economics. Students will be introduced to discussion about both the power and the limitations of experimental economics as a data collection method and to discoveries that have spurred a deeper interest in individual and group behavior. Students will practice the methods taught by reviewing published papers and designing their own experiments.
Testi Di Riferimento
Joachim Weimann and Jeannette Brosing-Koch, Methods in Experimental Economics, 2019.
John Kagel and Alvin Roth, Handbook of Experimental Economics, Volumes I and II, Elsevier Ebooks, 2015.
Metodologie Didattiche
Lectures and experiments in class and in the lab.
Modalità di verifica dell'apprendimento
Written exam plus intermediate learning checks.
In particular:
Continuous Assessment (1/3 of the overall grade): Mandatory activities done throughout the semester. In the event of absence and/or withdrawal from one or more assessment tasks, the mark is 0 and it is included in the calculation of the final grade. The evaluation obtained cannot be rejected.
Final Exam (2/3 of the overall grade): Individual final exam taken during the exam dates scheduled in the examination session at the end of the semester in which the course is taught. The evaluation obtained cannot be rejected.
Students exempt from the attendance requirement or not compliant with the attendance threshold
The assessment is based on a final exam, which accounts for 100% of the overall grade and includes an adequate instructional load to compensate for the student’s non-participation in the semester activities. The evaluation obtained cannot be rejected.
Criteri per l’assegnazione dell’elaborato finale
Pass the exam
Settimana 1
An overview of experimental economics: The History of Economic and Psychological experiments
Settimana 2
Pros and cons of experimental economics: External validity, replicability and the role of incentives.
Settimana 3
Methodological foundations: the induced value method, subjects, beliefs and payoffs. The influence of the experimenter.
Settimana 4
Interaction between subjects, decisions made by subjects, the repetition of games.
Settimana 5
Experimental practice: setting up an Experimental Laboratory, Preparing and conducting an experiment.
Settimana 6
The experiment from a statistical perspective and data analysis: Operationalizing the research question, Statistical tests and power analysis.
Settimana 7
Experiments on risk and ambiguity
Settimana 8
Experiments of dynamic decision making
Settimana 9
Experiments on strategic interaction
Settimana 10
Bargaining and market experiments
Settimana 11
Cheating and asymmetric information experiments.
Settimana 12
Discussion of students projects