UNIVERSITY OF MINNESOTA - APPLIED ECONOMICS

 

   INFORMATION AND BEHAVIORAL ECONOMICS
    Applied Economics 8402
New theories of consumer behavior that combine economic and psychological models. Influence of information on consumer choice over time and under uncertainty. Expected, nonexpected utility theory, information economics, bounded rationality, prospect theory, choice over time, and rational addiction with applications to empirical work.

Credits:  2

Class Schedule:  MW  11:00 - 12:30 pm
Location:  119 Classroom Office Building, St. Paul Campus
Professor Jean Kinsey
317b Classroom Office Building
612-625-2744, E-mail, Homepage
Office Hours: 1 hour after class & by appointment

Syllabus

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Dates
Lecture Topics
10/29

Introduction - Nobel Prize Message

10/31
Review expected utility and Bayesian decision making, neoclassic assumptions
 
11/5
Introduction and unexpected utility
 
11/7
 
11/12
Anomalies and changing preferences
 
11/14
Loss aversion - reference dependence
 
11/19
Prospect theory
 
11/21
Hyperbolic discounting
 
11/26
Rational Addiction
 
11/28
Student presentations
 
12/3
Student presentations
 
12/5
No class
 
12/10
Final exam
 
12/12
Final paper due. No class