Behavioural Economics

General Director:
Kenneth J. Arrow, Stanford University

Co-director:
Eyal Winter, The Hebrew University of Jerusalem

 

There is a long tradition of criticism of the rationality assumptions in economics going back to the 19th century. This criticism became increasingly evident in areas where rationality arguments are being applied especially in environments of uncertainty. In the last twenty years, cognitive psychologists have introduced their experimental methods to tests of
rationality and found that even relatively simple implications were refuted. In recent years, there is a growing body of research which seeks to develop alternative theories which meet the empirical evidence and explain many aspects of economic behavior. This School will explore both the critical and the positive developments in this area.

 

Speakers:

Dan Ariely, MIT
Ernst Fehr, Zurich University
Danny Kahneman, Princeton University
Alvin Roth, Harvard University
Reinhard Selten, University of Bonn

With the support of the Bionational Science Foundation & the Center for the Study of Rationality