About this course
In three modules, learners will be able to a). explain and interpret the principles underlying decision-making and compare the nudging approach to other methods of behavior change, b). learn how to critique, design and interpret the results of experiments; and c). design nudges and decision-tools to help people make better decisions.
Understanding experimental design and interpretation is central to your ability to truly use behavioral economics and will set you apart from people who merely know about the behavioral research. After the first two weeks learning the basic principles, we will devote two weeks to studying experimental design and analysis, and the final two weeks to understanding processes for designing nudges and for helping people make better decisions.
You will also witness and participate in weekly topical debates on various topics like “does irrationality impact welfare?” or “what strategy is better for improving welfare – nudging or education?” If you’ve been fascinated with the buzz surrounding behavioral economics but are not sure how to actually use it, this course is for you.
Several leading scholars, policy makers, business people, authors and commentators will briefly join our debate and discussion sections. These guest lecturers include Professor Sendhil Mullainathan (Harvard University), Professor John Lynch (University of Colorado), Rory Sutherland (Ogilvy Group), Owain Service (Behavioural Insights Team, UK Cabinet Office), Shankar Vedantam (NPR Columnist and Author – The Hidden Brain), Professors Andrew Ching, Avi Goldfarb, Nina Mazar, and Claire Tsai, Min Zhao (University of Toronto) and many others!
What you'll learn
- Develop an understanding of the philosophy and the principles underlying the field of behavioral economics
- Understand the differences between choice architecture / nudging and other approaches to behaviour change.
- Understand the key elements of an experiment, differentiate between three basic types of experimental designs, and gain insight into ANOVA and regression techniques for analyzing data.
- Use a prescribed process for designing your own nudges, and identify specific resources and tools you will need to execute a nudging strategy.
- Apply some of the learnings and ideas to policy and business.
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