IIRF Online > Finance & Accounting > Economics > Behavioral Economics > IIMBx: Behavioral Economics and Public Policy
IIMBx: Behavioral Economics and Public Policy by Edx
This course provides a perspective to understanding decision making. It will equip the learners with tools to better understand these deep psychological processes. It will discuss the topics like loss aversion, nudges, some notions of fairness and will also deal with practical examples which will help to form strategies in real life work environment.
Course Highlights
- Explain and analyze nudges and how choices can alter a person’s behaviour
- Understand decision making and its deep psychological processes.
- Correlate human behviour with financial decisions.
- Understand the various choices and strategies that we take in real life environment by practical examples.
Skills you will learn!
Curriculum
9 Topics
Heuristics and Biases
Representativeness
Biases resulting from representativeness
Anchoring
Availability
Affect
Overconfidence
Exponential growth bias
Other biases
8 Topics
Changes vs Levels
Loss aversion: losses and gains
Probability weighting function
Prospect theory
Mental accounting
Bundling gains and losses
Acquisition and Transaction Utility
Sunk Costs
6 Topics
Discounting the future
Exponential discounting
Anomalies
Present biased discounting
Naifs. Partial Naifs and sophisticates
Commitment Contracts
4 Topics
Strategic thinking among econs
Strategic thinking among humans: Level K
Cognitive Hierarchy Model
The idea of fairness
9 Topics
Discrimination
Post hoc justification
Types of Discrimination
Evidence of Discrimination
Consequences of Discrimination
Combatting Discrimination
Economics of Gender
Differences in Gender
Policies to rduce gender gaps
4 Topics
Nudges
Designing a choice architecture
Choice architecture
Half a dozen nudges
IIMBx: Behavioral Economics and Public Policy
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