The standard model of economic behavior describes a perfectly rational, self interested utility maximizer with unlimited cognitive resources. In many cases, this provides a good approximation to the types of behavior that economists are interested in. However, over the past 30 years, experimental and behavioral economists have documented ways in which the standard model is not just wrong, but is wrong in ways that are important for economic outcomes. Understanding these behaviors, and their implications, is one of the most exciting areas of current economic inquiry. This course will study three important topics within behavioral economics: Bounded rationality, temptation and self control and reference dependent preferences. It will draw on research from behavioral economics, experimental economics, decision theory, psychology and neuroscience in order to describe the models that have been developed to explain failures of the standard approach, the evidence in support of these models, and their economic implications. Link to course

The choice theory portion of the class will focus on the fundamental models of behavior which underlie most economic analysis. The majority of the course will focus on consumer behavior. We will begin by studying the relationship between utility maximization, preference maximization and choice, before moving on to study the properties of demand functions, which relate parameters of the consumer’s problem to their choices. We will then digress briefly to discuss producer theory and provide analogous results in this domain. We will conclude the study of choice behavior with a look at choice under uncertainty. Link to course

A introductory course for undergraduates designed to introduce the basic principles of microeconomics. Link to course. An earlier version of the course with more thorough notes is available here

The choice theory portion of the class will focus on the fundamental models of behavior which underlie most economic analysis. The majority of the course will focus on consumer behavior. We will begin by studying the relationship between utility maximization, preference maximization and choice, before moving on to study the properties of demand functions. We will conclude the study of consumer choice with a look at choice under uncertainty, before briefly touching on the behavior of firms – i.e. producer theory Link to course

Within economics, the standard model of behavior is that of a perfectly rational, self interested utility maximizer with unlimited cognitive resources. In many cases, this provides a good approximation to the types of behavior that economists are interested in. However, over the past 30 years, experimental and behavioral economists have documented ways in which the standard model is not just wrong, but is wrong in ways that are important for economic outcomes. Understanding these behaviors, and their implications, is one of the most exciting areas of current economic enquiry. The aim of this course is provide a grounding in the main areas of study within behavioral economics, including temptation and self control, fairness and reciprocity, reference dependence, bounded rationality and choice under risk and uncertainty. Link to course

G5212 is the second semester course in the microeconomics sequence for the MA program. It consists of two halves: Game Theory (first half) and Information Economics (second half). Link to course

Decision theory is the use of axiomatic techniques to understand the observable implications of models of choice. It is central to the incorporation of psychological insights into economics, and provides a vital link between theory and experimental economics. This course uses the tools of decision theory to understand the observable implications of behavioral economic models, and considers the experimental and field evidence in the light of these implications. The main areas covered will be utility maximization, bounded rationality and rational inattention, temptation and self control, choice under risk and uncertainty and reference dependent preferences Link to course

A graduate level course introducing the mathematical topics necessary for economic analysis. Link to course

A half course I taught at Princeton covering bounded rationality, reference dependent preferences, temptation and self control and neuroeconomics. Contains more applications that my other courses Link to course