Learning objectives
One of the main goals of the course is to provide students with wide knowledge of theories to explain individual behaviour, as well as hands-on experience on how to integrate these theories in decisional processes within the context of management. Particular emphasis will be placed on practices associated with the management of human resources and creative processes.
Prerequisites
Basic knowledge of microeconomic theory.
Course unit content
The aim of this course is to introduce students to the recent literature in behavioral economics, with a specific attention on how social preferences affects managerial decisions. The lectures will explore how psychology and economics have been integrated to better understand how people respond to incentives and organizational practices. The second part of the module will focus on applications of behavioral economics to specific fields of study such as economics of innovation and entrepreneurship.
Full programme
1. Introduction;
2. Experiments in behavioural economics;
3. Thinking strategically (part I)
4. Thinking strategically (part II)
5. Social preferences: The Ultimatum game
6. Markets implications of Ultimatum game
7. Trust and Trustworthiness in real life
8. Trust and Trustworthiness in markets and organizations
9. Cooperation in social dilemmas
10 Sustaining cooperation in social dilemma
11. Resolving coordination failures in organizations
12. Behavioural economics of innovation
13. Behavioural economics of entrepreneurship
Bibliography
Chaudhuri, A. (2021). Behavioural Economics and Experiments. Taylor & Francis. (AC)
Additional readings, mandatory and optional, will be made available at the beginning of the course.
Teaching methods
Lectures will take the form of frontal lectures in which students will be exposed to theories, experimental evidence and managerial applications. Students will be often involved in classroom experiments.
Assessment methods and criteria
1) Innovative pattern. During the course the students will present a project (course project) that is worth 10 points of the final score. The remaining 22 points (total 32 points including the laude) will be allocated on the basis of a written exam with multiple-choice questions and one open-text question. The exam will last 60 minutes. It will be held during a specific exam day right at the end of the classes (i.e. “preappello”) and it will be based only on the chapters of the book covered during the course. Only the students who hand in the idea brief by the date of the “preappello” will be allowed to take the exam through the innovative pattern.
Course project: students will make an interview to experts (managers, entrepreneurs, specialists) having a focus on one of the applications of behavioral economics to the field of management discussed during the course. The students will have first to make a brief presentation of the project during the course. Then, by the date of the “preappello” the students will have to submit a video with the content of the interview. Some of the videos will be select to be included in the podcast of the course. Course projects must be developed in groups of three/four students.
2) Traditional pattern. The final exam consists of a written exam with multiple-choice questions and two open-text questions. The exam will be based on the entire book and it will last 90 minutes. Students will be able to take this exam only during the official exam sessions (i.e. there is no “preappello”).
Other information
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2030 agenda goals for sustainable development
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