In preparation for LSE

RICHARD H. THALER is the father of behavioral economics—the study of how thinking and emotions affect individual economic decisions and the behavior of markets. He investigates the implications of relaxing the standard economic assumption that everyone in the economy is rational and selfish, instead entertaining the possibility that some of the agents in the economy are sometimes human. Thaler is Director of the Center for Decision Research at the University of Chicago Graduate School of Business. He is coauthor (with Cass Sunstein) of Nudge: Improving Decisions About Health, Wealth, and Happiness

Behavioural Economics:

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Listen to:

Behavioural Economics: Common Mistakes in Daily Decisions
Speaker: Professor Dan Ariely
Chair: Professor Lawrence Phillips
This event was recorded on 17 March 2008 in the Old Theatre, Old Building
Why do smart people make irrational decisions every day? Why do we repeatedly make the same mistakes when we make our selections? How do our expectations influence our actual opinions and decisions? The answers, as revealed by behavioural economist Professor Dan Ariely of MIT, will surprise you.
Available as:
mp3 (17 mb; approx 75 minutes)

19, 20, 21 November 2007, Lecture Series: The Psychology of Saving and Investment (1, 2, 3) presented by Professor David Laibson at London School of Economics and Political Sceince in UK (Audio file is downloadable).

March 28 and 29, 2007, Lecture Series,Topics in Experimental and Behavioral Economics, presented by Arno M. Reidle at Munich Univeristy.

March 2, 9 & 10, 2007, Behavioral and Experimental Economics, presented by Ernst Fehr (University of Zürich) Munich University.

September 27 & 28, 2007, Seminars on Implications of Behavioral Economics for Economic Policy, Federal Reserve Bank of Boston. Here is the text of president's speech by Janet L. Yellen, President and CEO, Federal Reserve Bank of San Francisco

  • Introductory Articles concerning Behavioral Game Theory:
  1. Progress in Behavioral Game Theory written by Colin Camerer
  2. Behavioral Game Theory: Thinking, Learning and Teaching," written by Colin Camerer with Teck-Hua Ho and Juin Kuan Chong. (downloadable)
  3. "Functional EWA: A one-parameter theory of learning in games." Includes 4 more data sets not in May 2002 version. Ho, Teck-Hua; Colin F. Camerer; and Juin-Kuan Chong. Nov. 2002. May 2002 version (downloadable)
  4. Sophisticated EWA learning and strategic teaching in repeated games," written by Colin Camere with Teck-Hua Ho and Juin Kuan Chong. Journal of Economic Theory, May 2002, 104 (1), 137-188 (downloadable)

Basic Books in Behavioral Game Theory:
  1. Behavioral Game Theory : Experiments in Strategic Interaction (The Roundtable Series in Behavioral Economics) by Colin F. Camerer

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Approach to teaching

Methods there are many, principles but few, methods often change, principles never do