Archive for January, 2011

Behavioral Economics: Prospect Theory

One of the most well-known economic theory papers is Prospect Theory, written by Kahneman and Tversky. Prospect Theory discusses how people violate Expected Utility Theory by valuing gains and losses differently from one another Before we get into Prospect Theory (PT), here’s a little background on Expected Utility Theory (EUT). EUT discusses how a decision […]

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Behavioral Economics: Our Decision-Making is Flawed

This is week two of my behavioral economics crash-course, where I’ll be giving a general overview of a few effects and biases that cause people to act irrationally. There’s so many more, some we’ll get to in later weeks, but these are just a few to get us started. Endowment Effect The endowment effect is […]

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Behavioral Economics: An Introduction

This semester I was lucky enough to get into a special topic economics elective titled Behavioral Economics. As I’ve mentioned in the past, behavioral economics is one of the fields that I find most fascinating, and as this is the first time the class is being offered, I feel fortunate that I was able to […]

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AEA Annual Conference

This weekend is annual American Economic Association conference, being held this year in Denver, Colorado. While I wish I could attend, I will be following updates throughout and will be sure to link to anything interesting I find! If you’re interested, you can preview the conference schedule. Looks like there’s going to be many interesting […]

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