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Cornell University    
 
    
 
  Sep 20, 2017
 
Courses of Study 2011-2012 [ARCHIVED CATALOG]

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AEM 4140 - Behavioral Economics and Managerial Decisions


Fall. 3 credits.

Prerequisite: ECON 3130  or PAM 2000 . Course fee: Lab fee $40. Enrollment is limited to: juniors or seniors.

D. R. Just and W. P. Schulze.

Behavioral economics integrates psychology and economics by identifying systematic anomalies in decision making. These are now recognized to be an important source of error in business decisions, and they provide the foundation for both behavioral marketing and finance. The course compares rational choice theory with behavior both in lecture and through a series of economics experiments in which students face situations that are likely to lead to anomalies such as “the winner’s curse,” the status quo bias, hyperbolic discounting, and bias in assessing risks. Students have the opportunity to evaluate their own decision making.



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