Lec 5(2 credit hours)– Norms, judgments, confirmation bias [K6-9]
Students will know the application of norms, judgments and confirmation bias.
Lec 6(2 credit hours) – Heuristics and Biases: Law of Small Numbers and Anchoring [K10-11, A2, TS1]
Students will comprehensively know the Law of Small Numbers and the definition and application of anchoring.
Lec 7(2 credit hours)– Heuristics and Biases: Availability [K12-13, TS1]
Students will master the concepts and applications of availability.
Lec 8(2 credit hours)– Heuristics and Biases: Representativeness [K14-15, TS1]
Students will gain the knowledge of concepts and applications of representativeness.
Lec 9(2 credit hours)– Heuristics and Biases: Base-rate neglect, regression to the mean, intuitive predictions [K16-
18]
Students will know the concepts of Base-rate neglect, regression to the mean and intuitive predictions, and how to apply
these methodologies.
Lec 10(2 credit hours) – Overconfidence [K19-24, TS1]
Students will know the definition and concepts of overconfidence.
Lec 11(2 credit hours) – Overconfidence [K19-24, TS1]
Students will know the phenomena and consequences a of overconfidence in decision making.
Lec 12(2 credit hours) – Choices: Expected Utility Theory and Prospect Theory [K25-26]
Students will know the concepts of expected utility theory and prospect theory.
Lec 13(2 credit hours) – The Endowment Effect [K27, A7]
Students will know the concepts and definition of endowment effect and understand how endowment effect work in
decision making.
Lec 14(2 credit hours) – More on Prospect Theory: Loss aversion, the fourfold pattern, and rare events [K28-31,
A1&3]
This lecture continues to explain prospect theory and student will know what factors affect the utility from prospect
theory perspective.
Lec 15(2 credit hours) – Mental accounting, reversals, and framing [K32-34, TS2]
Students will know the concepts of mental accounting, reversals and framing and how to apply related methods.
Lec 16(2 credit hours) – Experiencing vs remembering [K35-38]
This lecture will introduce the definitions and concepts of experiencing and remembering.
Lec 17(2 credit hours) – Experiencing vs remembering [K35-38]
This lecture will clarify a distinction between two selves, the experiencing self and the remembering self, which do not
have the same interests and the differences of well-being generated from these two selves.
Lec 18(2 credit hours) – Social norms [A4, TS3]
Students will know what social norms are and how to interpret these phenomena.
Lec 19(2 credit hours) – Libertarian paternalism [TS-Introduction, TS4-5]
Students will comprehensively know the concepts and mechanisms of libertarian paternalism.
Lec 20(2 credit hours) – Policy implications: Saving and investment: [TS6-7]
This lecture will explore how people can do a better job at the difficult tasks of saving and investing and offer some
suggestions about how private and public institutions might nudge people in directions that will make them a bit
wealthier and more secure.
Lec 21(2 credit hours) – Policy implications: Borrowing and social security [TS8-9]
This lecture will explore how people can do a better job at the difficult tasks of borrowing and social security, and offer
some suggestions about how private and public institutions might nudge people in directions that will make them a bit
wealthier and more secure.
Lec 22(2 credit hours)– Policy implications: Health, environment, education [TS10-13]
This lecture will clarify how people can do a better job when facing tasks of health, environment and education, and
offer some suggestions about how institutions might direct people so that people can be wealthier and more secure.