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Behavioral economics

academic year

Course teacher(s)

Georg KIRCHSTEIGER (Coordinator)

ECTS credits


Language(s) of instruction


Course content

Standard microeconomic theory is based on two main assumptions: Rationality and selfishness. When actual behavior of economic agents - as observed in economic experiments or in the field - does not conform with economic theory, this behavior might either contradict the rationality assumption or the selfishness assumption (or both). The first part of the course is devoted to the analysis of non-selfish preferences. Based on experimental evidence, we present behavioral models of altruism, envy, fairness, and reciprocity, and show their impact on different economic problems. The second part of the course deals with boundedly rational behaviour and its impact on markets.

Objectives (and/or specific learning outcomes)

After the course the students should know the research frontier in (some subfields of) behavioral economics.

Teaching methods and learning activities


Contribution to the teaching profile

The course provides in depth knowlegde of behavioral economics.

References, bibliography, and recommended reading

see gkirchst.ulb.be

Other information


Method(s) of evaluation

  • written examination

written exam

Mark calculation method (including weighting of intermediary marks)

grade of the course = grade of the written exam

Language(s) of evaluation

  • english