Behavioral economics is the study of decision making, and of the related themes of valuation, exchange, and interpersonal interactions. Using methods from psychology, sociology, neurology, and economics, behavioral economics sheds light one of the most fundamental activities of human life:the decision process. In 24 insightful lectures, you'll learn how behavioral economists look at decision making and explore a set of key principles that offer deep insight into how we evaluate information and integrate different factors to make decisions. Most important, using real-life illustrations and case studies, each lecture offers practical tools, so that you can understand the patterns of decision making, the purposes they serve, and how to use your knowledge to make better and more satisfying decisions. In grasping the underlying factors in decision making, you'll explore key topics such as decisions regarding probability, time-related decisions, managing risk, high-stakes medical decisions, and group decision making. Professor Huettel illustrates each concept with meaningful examples, analogies, and case studies, relating the material directly to the decisions all of us make as a central part of living. This unique course gives you essential knowledge and insights for one of life's most important skills.

Disclaimer: Please note that this recording may include references to supplemental texts or print references that are not essential to the program and not supplied with your purchase.

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Lecture 1. What Is a Good Decision?
Lecture 2. The Rise of Behavioral Economics
Lecture 3. Reference Dependence - It's All Relative
Lecture 4. Reference Dependence - Economic Implications
Lecture 5. Range Effects - Changing the Scale
Lecture 6. Probability Weighting
Lecture 7. Risk - The Known Unknowns
Lecture 8. Ambiguity - The Unknown Unknowns
Lecture 9. Temporal Discounting - Now or Later?
Lecture 10. Comparison - Apples and Oranges
Lecture 11. Bounded Rationality - Knowing Your Limits
Lecture 12. Heuristics and Biases
Lecture 13. Randomness and Patterns
Lecture 14. How Much Evidence Do We Need?
Lecture 15. The Value of Experience
Lecture 16. Medical Decision Making
Lecture 17. Social Decisions - Competition and Coordination
Lecture 18. Group Decision Making - The Vox Populi
Lecture 19. Giving and Helping - Why Altruism?
Lecture 20. Cooperation by Individuals and in Societies
Lecture 21. When Incentives Backfire
Lecture 22. Precommitment - Setting Rationality Aside
Lecture 23. Framing - Moving to a Different Perspective
Lecture 24. Interventions, Nudges, and Decisions