These are the exam questions for year 2020

This is a summary of the assigned readings for the module

Notes on the module Behavioural Economics

Tutorial questions and answers

Complete and concise notes for the entire course in Behavioural Economics at UCL. Helpful for economics students as well as students choosing to undertake this introductory course as an optional module. Includes lecture notes for all topics like decision-making under risk and uncertainty, reference dependence, intertemporal choice, social preferences, changing behaviour, policy-making and nudge theory, bounded rationality, limited attention and limited bandwidth, as well as heterogeneity and mal...

Complete and concise notes for the entire course in Behavioural Economics at UCL. Helpful for economics students as well as students choosing to undertake this introductory course as an optional module. Includes the summaries of all assigned reading during the year - for topics like decision-making under risk and uncertainty, reference dependence, intertemporal choice, social preferences, changing behaviour, policy-making and nudge theory, bounded rationality, limited attention and limited bandw...

People have hyperbolic discounting function, present bias and thus utility will be different from the traditional model

When making decision, we are not fully rational because of limited human cognitive. For example, financial literacy prevents people from saving earlier and smooth consumption, ignoring the sales tax (which is not in the posted price) means changes in demand when sales tax changes is different from changes in demand when posted price changes

Despite the assumption of traditional economics model that agents are rational, behavioural economics found that people are actually subject to bounded rationality by using heuristics. This leads to bias that could affect utilities