Ec 101: Behavioral Economics
Spring 2007
Mon 7-10pm, 25 Baxter
Professor Colin Camerer, camerer@hss.caltech.edu, http://www.hss.caltech.edu/camerer/
Office: 101 Baxter
Assistant: Melissa Slemin, Baxter 332, melissa@hss.caltech.edu
»Articles, etc
- Syllabus
- Syllabus, updated 4/13/07
- Syllabus, updated 4/30/07
- "Investor Psychology and Asset Pricing"...David Hirshleifer,
Aug 2001, Journal of Finance, Vol LVI, No. 4
- "From Efficient Markets Theory to Behavioral Finance"...Bob Shiller, Winter 2003, Journal of Economic Perspectives, Vol. 17, No. 1, pp. 83-104.
- "Judgement under Uncertainty: Heuristics and Biases"...Amos Tversky, Daniel Kahneman, Sept 1974
- "Prospect Theory: An Analysis of Decision under Risk"...Daniel Kahneman, Amos Tversky, Mar 1979.
- "Neural Systems Responding to Degrees of Uncertainty in Human Decision-Making"...Ming Hsu, Meghana Bhatt, Ralph Adolphs, Daniel Tranel, Colin Camerer; Dec 9 2005, Science, Vol. 310, pp 1680-1683.
- "Diminishing Reciprocal Fairness by Disrupting the Right Prefrontal Cortex"...Daria Knoch, Alvaro Pascual-Leone, Kaspar Meyer, Valerie Treyer, Ersnt Fehr; Nov 3 2006, Science, Vol 314, pp 829-832.
- "The Neural Basis of Economic Decision-Making in the Ultimatum Game"...Alan G. Sanfey, James K. Rilling, Jessica A. Aronson, Leigh E. Nystrom, Jonathan D. Cohen; June 13 2003, Science, Vol 300, pp. 1755-1758.
- "Field Experiments in Development Economics" .....Esther Duflo (MIT), Dec 2005
- Camerer, JPE 98 Field Experiment
- "Field Experiments" .....Glenn Harrison & John List, Dec '04
- "Social Preferences and the Response to Incentives: Evidence from Personnel Data" .....Oriana Bandiera,
Iwan Barankay, Imran Rasul; Apr '05
- "Neuroeconomics: cross-currents in research on decision-making" .....Alan G. Sanfey, George Loewenstein, Samuel M. McClure & Jonathan D. Cohen; Mar '06
- "A Theory of Fairness in Labor Markets" .....Daniel Benjamin, Nov 05
- "A Model of Reference-Dependent Preferences" .....Botond Koszegi, Matthew Rabin, Jul '05
- "The Evolution of Our Preferences: Evidence from Capuchin-Monley Trading Behavior" .....Chen, Lakshminarayanan, Santos, Jul 19 '05
- "Developments in Non-Expected Utility Theory: The Hunt for a Descriptive Theory of Choice under Risk" .....Chris Starmer, Jun '00
- "The Hyperbolic Consumption Model: Calibration, Simulation, and Empirical Evaluation" .....George-Marios Angeletos, David Laibson, Andrea Repetto, Jeremy Tobacman & Stephen Weinberg; Summer '01
- "Time Discounting and Time Preference: A Critical Review" .....George Loewenstein, Ted O'Donoghue, Shane Frederick; Jun '02
- "Addiction and Cue-Triggered Decision Processes" .....B. Douglas Bernheim, Antonio Rangel; Jul '04
- "Bounded Rationality in Industrial Organization" .....Glenn Ellison; Aug '05
- "Shrouded Attributes, Consumer Myopia, and Information Suppression in Competitive Markets" .....
Xavier Gabaix, David Laibson; Apr '05
- "A Cognitive Hierarchy Model of Games" .....C Camerer, Teck-Hua Ho, & Juin-Kuan Chong; Aug '04
- "Fairness and Retaliation: The Economics of Reciprocity" .....Ernst Fehr & Simon Gächter
- "Incorporating Fairness into Game Theory and Economics" .....
Matthew Rabin; Dec '93
- "Interdependent Preferences and Reciprocity" ..... Joel Sobel; Jun '05
- "Intrinsic and Extrinsic Motivation" .....Roland Bénabou, Jean Tirole; Jan '03
- "Relational Contracts and the Nature of Market Interactions" .....Martin Brown, Armin Falk & Ernst Fehr; May '04
- "Labor Supply of New York City Cabdrivers: One Day at a Time" .....C Camerer, Linda Babcock, George Loewenstein & Richard Thaler; May '97
- "Is Tomorrow Another Day? The Labor Supply of New York City Cabdrivers"
Henry Farber; 2005
- "A Survey of Behavioral Finance"
Nicholas Barberis, Richard Thaler; 2003
- "All that Glitters: The Effect of Attention and News on the Buying Behavior of Individual and Institutional Investors"
Brad M. Barber, Terrance Odean; January 2005
- "Simple Forecasts and Paradigm Shifts"
Harrison Hong, Jeremy Stein. Jialin Yu; June 2005
- "Behavioral Public Economics: Welfare and Policy Analysis with Non-Standard Decision Makers"
B. Douglas Bernheim, Antonio Rangel; July 2005
- "Physiological utility theory and the neuroeconomics of choice"
Paul W. Glimcher, Michael C. Dorris, Hannah M. Bayer; June 2004
- "Naturally reconstructing expected utility"
Brian Knutson, Richard Peterson; June 2003
- "Separate Neural Systems Value Immediate and Delayed Monetary Rewards"
Samuel M. McClure, David I. Laibson, George Loewenstein, Jonathan D. Cohen; October 2004
- Advances in Behavioral Economics
Colin Camerer, George Loewenstein, Matthew Rabin (Editors), Introduction
- Discussion of Behavioral Economics"
Ariel Rubinstein; August 2005
- "The Case for Mindless Economics"
Faruk Gul, Wolfgang Pesendorfer; November 2005
- "Limited Attention as the Scarce Resource in an Information-rich Economy"
Josef Falkinger; March 2005
- "The Neural Basis of Financial Risk Taking"
Camelia Kuhnen, Brian Knutson; September 2005
- "Failure to Detect Mismatches Between Intention and Outcome in a Simple Decision Task"
Petter Johansson, Lars Hall, Sverker Sikström, Andreas Olson; October 2005
- Chapter in M. Altman (Ed.) Handbook of Behavioral Economics, in press 2006
»PowerPoints
»Homework/Exams