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Dec 21, 2024
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LAW 880 - Behavioral Economics2 Credit Hours
Seminar course will study the policy implications of behavioral economics. In contrast to the standard rational model of economic behavior, human beings’ cognitive abilities and willpower are limited. Moreover individuals do not always act in their self-interest, but can act generously even when contrary to their economic self-interest. Because of this, individuals frequently act in ways that depart systematically from the predictions of economists’ standard models. Behavioral economics attempts to understand these departures and, more generally, integrate psychologists’ understanding of human behavior into economic analysis.
Comment(s): This seminar does not require a background in economics.
Registration Restriction(s): Law students only.
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