Intro to Concepts in Behavioral Economics and Decision Making - Mar 2010

Let's begin by sharing some thoughts about how we make decisions. This will help us get to know each other and it will activate what we already know about decision making--making our minds more receptive to learning new information about the topics in this course! (instructions on how to participate in the discussion)

A minimal amount of materials and activities are posted each week (organized under the headings WATCH, READ and DO) to get us started learning about the various topics in Behavioral Economics.  This week, some of the materials are related to concepts and pitfalls in standard economic theory. Others jump us right into behavioral economics (BE). It is probably best at this point to concentrate on getting a handle on the differences in perspective and a general grasp of what BE is all about. We'll have plenty of time to get immersed in the details soon.

WATCH:

READ:
Rational Choice Theory
Homo Economicus
Efficient Market Hypothesis

DO:
Let's discuss what we've read/watched so far and how it relates to our lives and interests. What we are learning has broad implications. It will be helpful to tune in right now to some specific issues that are near and dear to us. Then as we dig into various aspects of BE over the next few weeks, we will be able to apply what we are learning directly to our personal "pet projects!" Please add your own discussion topics and contribute to those started by peers in the discussion area.