Economics- Upcoming School: 2019-2020


The 31st Advanced School in Economic Theory  on: "Imprecise Cognition and Economic Behavior"



General Director: Eric Maskin (Harvard University)


Elchanan Ben-Porath (The Hebrew University)

Michael Woodford (Columbia University)


Summer School on Cognitive Imprecision and Economic Behavior

While economic analysis typically assumes that people reliably choose the available action that is best suited to their current circumstances, experimental psychology has instead emphasized the imprecision of both perceptions and recollections of the objective features of one's environment. This summer school explores whether the kind of cognitive imprecision that is well-documented in sensory domains may also limit the accuracy of economic decisions, and help to account for experimentally documented anomalies for normative models of decision making. It features lecturers from economics, psychology and neuroscience, addressing issues that include the effects of imprecise memory and learning, models of stochastic choice and choice under risk, imprecision in judgments of probability, "efficient coding'' models of the structure of imprecise representations, and evolutionary explanations for behavioral heuristics.


Registration fee:

Students affiliated with Israeli institutions: 200 NIS
Faculty members affiliated with Israeli institutions: 400 NIS
Student and faculty affiliated with institutions outside of Israel: 1400 NIS

Accepted participants will receive instructions on how to make the payment.



Robert Aumann (The Hebrew University of Jerusalem): Evolution and Behavioral Rules

Rava Azeredo da Silveira (ENS Paris and University of Basel): Efficient Coding in Neurons and Cognition

Ido Erev (Technion): Learning as a Basis for Decision Making     

Itzhak Gilboa (Tel Aviv University and HEC Paris): Case-Based Decision Theory

Tom Griffiths (Princeton University): Heuristics and Biases as Consequences of Resource-Limited Cognition

Michael Kahana (University of Pennsylvania): Models of Memory

Eric Maskin (Harvard University): Hyperbolic Discounting and Uncertainty

Florent Meyniel (NeuroSpin Center): Neuroscience of Judgments about Probability

Paulo Natenzon (Washington University): Similarity and Imprecision in Choice

Ran Spiegler (Tel Aviv University and UCL): Behavioral Implications of Causal Misperceptions

Tomasz Strzalecki (Harvard University): Sequential Evidence Accumulation and Stochastic Choice

Jessica Wachter (The Wharton School): Memory Limitations and Finance

Michael Woodford (Columbia University): Imprecise Perception, Valuation and Choice


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