ECO331Gazzale2019Winter.pdf - University of Toronto Department of Economics ECO331 Robert Gazzale PhD ECO331 Winter 2019 Behavioural and Experimental

ECO331Gazzale2019Winter.pdf - University of Toronto...

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University of Toronto Department of Economics ECO331 Robert Gazzale, PhD ECO331: Winter 2019 Behavioural and Experimental Economics 1 The Big Picture Section L0101. Tuesdays, SS 1083: 2:00 PM – 5:00 PM. Section L5101. Tuesdays, SS 1083: 5:00 PM – 8:00 PM. Contacting me. Office: Max Gluskin House (150 St. George Street), Room 330 Office Hours: Thursdays, 11:00 AM – 12:00 PM and by appointment Texts and Materials. Required: MobLab: The cost is $12 for the semester. Registra- tion instructions found in the Syllabus section of Quercus. Required: Packback: The cost is $25 for the semester. Regis- tration instructions found in the Syllabus section of Quercus. Required: Articles, book chapters and handouts as posted on Quercus. Teaching Assistants. Julian Dyer ( j[email protected] ) Hugo Hseih ( [email protected] ) Stefano Pereira ( [email protected] ) Website. Quercus: Assessments. Date Length Weight In-class assignments All Year N/A 9% Packback curiosity assignments All Year N/A 10% Term Test Tues, February 12, 2019 2 hours 25% Term Paper See below N/A 25% Final Examination TBA 2 hours 31% 2 The Details This is kind of a weird course. Behavioural economics might best be described as a movement: an effort to incorporate the insights of other social science disciplines (psychology in particular) to appropriately modify and augment the economist’s traditional assumptions about human behaviour and preferences. It is Version 20190113 1
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University of Toronto Department of Economics ECO331 Robert Gazzale, PhD motivated by the fact that while models based on traditional assumptions often do rather well in predicting actual outcomes, non-trivial anomalies have been identified which might be reconciled by more “realistic” assumptions about human preferences and behaviour. That is, by making more realistic assumptions about human behaviour, can we improve the predictions made by economic models? Experimental economics is defined by method, namely the use of controlled, human- subject experiments. This course concentrates on the intersection of behavioural and experimental economics. Namely, we (mostly) look at controlled experiments which seek to uncover and quantify systematic ways in which people deviate from traditional assumptions. Even limiting our attention to the intersection of behavioural and experimental economics, the list of possible topics to include in this class is absurdly long. My topic-selection mechanism might best be described as arbitrary and capricious, with perhaps some method to my madness. 2.1 Goals of the Course I have three overarching goals for this course. 1. Behavioural Economics Understand a set of insights from behavioural economics with an eye towards recognizing how these insights improve the economist’s ability to explain and predict real-world behaviour.
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