Topics for Shanghai course on behavioral economics, October 19-23
时间:周一至周五:每天上午9:30-11:30; 下午1:30-4:00 Monday: History, philosophy and methods of behavioral economics
Camerer, C. & Loewenstein, G. (2003) Behavioral economics: Past, present, future.
In C. Camerer, G. Loewenstein and M. Rabin (eds.) Advances in Behavioral Economics (pp. 3-51).
New York and Princeton:
Russell Sage Foundation Press and Princeton University Press.
Ashraf, N., Camerer, C. & Loewenstein, G. (2005).
Adam Smith, behavioral economist. Journal of Economic Perspectives, 19(3), 131-146.
Bruni, L. & Sugden, R.
(2007).
The road not taken: How psychology was removed economics, and how it might be brought back. Economic Journal, 117, 146–173.
Tuesday: Loss aversion and mental accounting
Thaler, R. H. (1999). Mental accounting matters. Journal of Behavioral Decision Making, 12, 183-206.
Prelec, D. & Loewenstein, G. (1998). The red and the black: mental accounting of savings and debt. Marketing Science, 17, 4-28.
Wednesday: Risk and uncertainty
Starmer, C.
(2000).
Developments in non-expected utility theory: The hunt for a descriptive theory of choice under risk.
Journal of Economic Literature, XXXVIII, 332-382.
Kahneman, D. & Tversky, A.
(1979).
Prospect theory:
An analysis of decision under risk. Econometrica, 47, 263-291.
Rabin, M & Thaler, R. (2001).
Anomalies: Risk aversion. Journal of Economic Perspectives, 15(1), 219-232.
Ditto, P. H., Pizarro, D.A., Epstein, E.B., Jacobson, J.A. & MacDonald, T.K. (2006). Visceral influences on risk-taking behavior. Journal of Behavioral Decision Making, 19(2), 99-113.
Ellsberg, D.
(1961).
Risk, ambiguity, and the savage axioms. Quarterly Journal of Economics, 75(4), 643-669.
Thursday: Intertemporal choice
Frederick, S., Loewenstein, G. & O'Donoghue, T.
(2002).
Time discounting and time preference:
A Critical Review. Journal of Economic Literature. 40(2), 351-401.
O’Donoghue, T. & Rabin, M. & O'Donoghue, T.
(2000).
The economics of immediate gratification. Journal of Behavioral Decision Making, 13, 233-250.
Read, D. (2001). Is time-discounting hyperbolic or subadditive? Journal of Risk and Uncertainty, 23, 5-32.
Friday: Behavioral economics and public policy
Loewenstein, G. and Haisley, E. (2008). The economist as therapist: Methodological issues raised by 'light' paternalism.
In A. Caplin and A. Schotter (Eds.), "Foundations of Positive and Normative Economics", volume 1 in the Handbook of Economic Methodologies, Oxford, England: Oxford University Press.
Madrian, B. & Shea, D.
(2001).
The power of suggestion: Inertia in 401(k) participation and savings behavior. Quarterly Journal of Economics, 116, 1149-1525.
Thaler,, R. & Benartzi. S.
(2004).
Save more tomorrow: Using behavioral economics to increase employee saving. Journal of Political Economy, 112, S164-S187.