Irrational Behavior-A Beginner's Guide-KTRseeders: 17
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Irrational Behavior-A Beginner's Guide-KTR (Size: 1.37 GB)
DescriptionIrrational Behavior-A Beginner's Guide-KTR Behavioral economics couples scientific research on the psychology of decision making with economic theory to better understand what motivates financial decisions. In A Beginner’s Guide to Irrational Behavior, you will learn about some of the many ways in which we behave in less than rational ways, and how we might overcome our shortcomings. You’ll also learn about cases where our irrationalities work in our favor, and how we can harness these human tendencies to make better decisions. Instructor: Dan Ariely Professor of Psychology and Behavioral Economics Fuqua School of Business Duke University About the Course:: This course will draw heavily on my own research, and pulls largely from my three books: Predictably Irrational (2008), The Upside of Irrationality (2010), and The Honest Truth About Dishonesty (2012). We will examine topics such as our “irrational” patterns of thinking about money and investments, how expectations shape perception, economic and psychological analyses of dishonesty by honest people, how social and financial incentives work together (or against each other) in labor, how self-control comes into play with decision making, and how emotion (rather than cognition) can have a large impact on economic decisions. This highly interdisciplinary course will be relevant to all human beings. The goals of this class:: Introduce you to the range of cases where people (consumers, investors, managers, friends, significant others, and even you) might make decisions that are inconsistent with standard economic theory and the assumptions of rational decision making. This is the lens of behavioral economics. Help you think creatively about the applications of behavioral economics to the development of new products, technologies and public policy, and to understand how business and social policy strategies could be modified with a deeper understanding of the effects these principles have on all of us. Course Syllabus There are two tracks that you can take to receive a Statement of Accomplishment for this course. For each track, you will need to earn a grade of 85% or above, but your path toward that grade will be different under each track. Course Includes:: Precourse: Introduction to Behavioral Economics Meet Dan Ariely (2:53) Site Tour (5:46) How to Pass this Class (2:27) Managing Your Time (5:40) Week 1: Irrationality 1.1 Visual and Decision Illusions (19:16) 1.2 Defaults (19:57) 1.3 Do We Know Our Preferences? (4:04) 1.4 Choice Sets and Relativity (15:11) 1.5 The Long-lasting Effects of Decisions (22:09) 1.6 Learning from Our Mistakes (9:58) Week 2: Psychology of Money 2.1 Opportunity Cost (12:20) 2.2 Relativity (7:24) 2.3 The Pain of Paying (14:32) 2.4 Mental Accounting (8:09) 2.5 Fairness and Reciprocity (8:09) 2.6 Loss Aversion and The Endowment Effect (12:17) 2.7 Market and Social Norms (20:42) 2.8 The Price of FREE (9:50) 2.9 Micro-payments (11:42) Week 3: Dishonesty 3.1 The Simple Model of Rational Crime (14:47) 3.2 Shrinking and Expanding the Fudge Factor (24:31) 3.3 Conflicts of Interest (15:04) 3.4 Cheating Over Time and Across Cultures (10:42) Week 4: Labor and Motivation 4.1 Extrinsic versus Intrinsic Motivation (16:58) 4.2 Meaning (4:13) Week 4.2 Lecture Slides for 4.2 Meaning (4:13) 4.3 Acknowledgement (3:31) 4.4 IKEA Effect (11:49) 4.5 Not-Invented-Here Bias (9:36) 4.6 Cognitive Dissonance (5:00) 4.7 Monetary Stress and Performance (22:01) 4.8 Social Stress and Performance (8:11) 4.9 Bonuses, Labor and Motivation (11:48) Week 5: Self-control 5.1 Difficulty with Self-Control (16:46) 5.2 Reward Substitution (12:46) 5.3 Ulysses Contracts (11:09) 5.4 The Importance of Self-control: The Individual and the Environment (13:48) Week 6: Emotion 6.1 Two Systems (20:25) 6.2 Intra-empathy Mismatch (3:48) 6.3 The Identifiable Victim Effect (16:38) 6.4 Emotional Decision Making (10:16) 6.5 Risk Assessment (6:28) Sharing Widget |