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PHD Course: Behavioral Economics, Learning, and the Big Data Revolution

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Program

The class will start at 9.00 and end at 16.00. The meeting point the first day wil be in the main foyer in front of the stairs at 8.45

 Day 

Topics  

Recommended reading 

 23 Sept

Money makes the world goes round
Lecture: Review of classical behavioral decision research from Bernoulli (1738) to Kahneman & Tversky (1979), and its relationship to the big data revolution.
Optional practice: deriving the prediction of the noisy retriever model

•  Hardin (1968)
•  Kahneman & Tversky (1979)

 24 Sept 

From anomalies to predictions
Lecture: The classical deviations from rational choice and the impact of experience.
Random forest and feature engineering (with optional practice) 

 • Erev et al. (2017)
•  Breiman (2001)

 25 Sept

The impact of experience
Lecture: Basic learning phenomena, and the 2020 choice prediction competition.
Optional practice: The use of computer simulations to develop models that approximate human reaction to incentives.

•  Erev et al. (2019)
 

 26 Sept

 Practical implications and student presentations
Lecture: Fake News and violence
Practice: Students’ presentation

 . Pinker (2011)

• Literature
• Breiman, L. (2001). Statistical modeling: The two cultures (with comments and a rejoinder by the author). 
   Statistical science, 16(3), 199-231
• Erev, I., Ert, E. Plosky, O., Cohen, D., & Cohen O. (2017). From anomalies to forecasts: Toward a descriptive model
    of decisions under risk, under    ambiguity, and from experience. Psychological Review, 122(4), 621.
• Erev, I., & Roth, A. E. (2014). Maximization, learning, and economic behavior. Proceedings of the National Academy 
   of Sciences, 111(Supplement 3),    10818-10825.
• Hardin, G. (1968). The tragedy of the commons. science, 162(3859), 1243-1248.
• Kahneman, D., & Tversky, A. (1979). Prospect theory: An analysis of decision under risk. Econometrica,47, 263-291.
• Pinker, S. (2011). Decline of violence: Taming the devil within us. Nature, 478(7369), 309.
• Plonsky, O., Teodorescu, K., & Erev, I. (2015). Reliance on Small Samples, the Wavy Recency Effect, and Similarity-based
   Learning. Psychological Review, 122(4), 621–647.


Last Updated 20.12.2023