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Behavioral Economics
发布时间:2021-12-01
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Behavioral Economics, Fall 2021
Project Assignment
This assignment is to be completed by each student individually. Describe in detail one particular behavior you notice about yourself or those around you, which you believe may not be easily explained by the classical economic models you have studied in other courses. The behavior you select should be directly inspired by your personal observations, and if possible, it should not be something which we have already discussed in this class.
Please think carefully about this behavior X, using the guidelines provided below. Do not look to the literature for
answers or ideas – your originality and detail will count in the grading of this project.
Please make 6 horizontally oriented Powerpoint (or other similar program) slides, page numbered, printed on paper (one slide per page) and stapled, whose font can be no smaller than 16 point. The assignment may not exceed 6 slides. Please note that the assignment is not to write a paper, so please do not turn in your assignment in the form of a paper. You may include graphs and pictures in your slides, as though you were to give a presentation to our class. Some students will have a chance to present their work on the day that the assignment is due.
For the content of each slide, please follow the instructions listed below. The grading will be based on your thoughtfulness, effort, accuracy, and understanding of concepts from the course.
Slide 1: Print your name, and state in detail behavior X, including examples of individuals engaging in such behavior based on your observations.
Slide 2: Carefully reconsider whether behavior X can be addressed using the assumptions of neoclassical models, meaning those models which do not take into account psychological foundations of behavior. Present arguments for both sides.
Slide 3: Offer a preference-based explanation for behavior X (it may be either behavioral or non-behavioral in nature). It does not necessarily need to be a model which we covered in class. Clearly describe the innovation in preference specification that your explanation makes.
Slide 4: Among the major topics we have covered so far in the course, chose the behavioral economics concept which in your professional view most adequately addresses behavior X. Describe in detail, using visual aids if necessary, how the chosen concept might account for behavior X. Consider only those concepts we have covered in class, and do not look to the literature for alternative models.
Slide 5: Carefully critique the adequacy of the behavioral economics model you described in Slide 4, in terms of its ability to account for behavior X. Provide at least 2 reasons why that model is a sufficient explanation for behavior X, and at least 2 reasons why it is insufficient. Finally, offer your professional verdict (yes or no?) as to whether the behavioral model does a reasonable job.
Slide 6: If you answered “yes” to the question in Slide 5, please propose a design for an empirical test (using either experimental or field data) which can begin to test whether the concept/model described in Slide 5 describes incidences of behavior X in the general population. Describe how your empirical design overcomes the difficulties of alternative explanations. If you are feeling ambitious or curious, you may collect a small sample of data on your own (optional), however, be sure to cover the required tasks in this assignment first.
If you answered “no” to the question in Slide 5, descriptively propose your own model of behavior X. You may describe your model either using equations, pictures, or words, as you see fit in order to explain your idea clearly.
For Slide 6 (regardless of whether you are doing the empirical option or the theoretical option), you should not look to any academic literature to see what other researchers have already done – instead, you should propose your own solutions and ideas.
Good luck and have fun!!