Behavioral Economics: A Maverick Guide

Abstract

These are the notes from the first half of the course in behavioral economics offered at the School of Social Sciences of the University of the Republic in Uruguay in November 2014. This part of the course, entirely verbal, was aimed at outlining the essentials of behavioral economics. The principal assignments were from the second edition of Edward Cartwright's text, Behavioral Economics. The second part of the course, taught by Dr. Martin Egozcue, is not included. It emphasized prospect theory, mental accounts and inter-temporal decision making, and featured substantial mathematical input.

Keywords: behavioral economics, perception, heuristics, empirical verifications, prospect theory, visceral and emotional considerations.

JEL Classification: C9, Y9, Z