This field is offered to 2nd year PhD students at the Economics Department. It introduces two interdisciplinary areas: Behavioral Economics and Experimental Economics. It will expose students with not only the history of these two areas but also the most recent developments in this highly active literature. In Behavioral Economics part, the rationality assumptions of the standard economic theory are questioned, evidence on behavioral biases in individual and strategic decision making is discussed and most resent behavioral theories that are proposed to fit data better are developed. In Experimental Economics part, a relatively new methodological tool is introduced to the students: field and laboratory experiments. This methodology has been proven to be successful to collect data in a very controlled way, test the predictions of economic theory and help researchers to identify systematic deviations from the implications of the standard theory.
ECON 635: Experimental Economics
An introduction to the methodology of laboratory and field experiments. The course concentrates on a series of experiments to show how experiments build on one another, allowing researchers with different theoretical dispositions to narrow the range of potential disagreement.
Field Requirements in Behavioral and Experimental Economics:
- Econ 635, Econ 636 and one other course chosen in consultation with the faculty in the field; suggestions include Econ 662, 703, 704 and 754.
- Average grade of B+ or better in the courses.
- Field exam and a B+ or better in a written experimental proposal, due on the Monday of the week of field exams (typically early June).