Termíny

18.9.2017 - 15.12.2017 - Výuka v zimním semestru 2017/2018

18.12.2017 - 1.2.2018 - Zkouškové období

Hledat
Pokročilé hledání




5IE312 – Ekonomie a psychologie I.

Související stránky

Zaměření předmětu:

Předmět je úvodem do psychologie ekonomického rozhodování a jednání; pomocí experimentálních a reálných dat bude ukázáno jak psychologické fenomény mohou ovlivňovat chování jednotlivců a dynamiku celých ekonomik. Od studentů je očekávána znalost ekonomie na bakalářské úrovni, zájem diskutovat o předestřených problémech a především snaha hledat jejich (vědecká) řešení.

Literatura:

Povinné: * a doporučené knihy/články k jednotlivým tématům a aktuální články z oblasti ekonomie a psychologie. Řadu knih lze získat v elektronické knihovně KIE Books pod příslušnou sekcí kurzu (resp. pod kurzem 5IE412 — Behaviorální ekonomie).

  • Akerlof, G. A., Shiller, R. J. (2009): Animal spirits: How human psychology drives the economy, and why it matters for global capitalism. Princeton: Princeton University Press.
  • Ariely, D. (2009): Jak drahé je zdarma: proč chytří lidé přijímají špatná rozhodnutí, iracionální faktory v ekonomice i v životě. Praha: Práh. (popularizující kniha)
  • Ariely, D. (2011): Jak drahá je intuice: proč nás selský rozum často vede ke ztrátovým rozhodnutím. Praha: Práh. (popularizující kniha)
  • Baron, J. (2000): Thinking and deciding. Cambridge: Cambridge University Press.
  • Gilbert, D. T. (2007): Škobrtnout o štěstí: jak se chytá zlatá muška. Praha: Dokořán (popularizující kniha).
  • Loewenstein, G., Rabin, M., Camerer, C. (eds.) (2004): Advances in behavioral economics. New York: Russell Sage Foundation (vybrané kapitoly, A04).
  • Kahneman, D., Tversky, A. (eds.) (2000): Choices, values and frames. Cambridge: Cambridge University Press (vybrané kapitoly).
  • Kahneman, D., Diener, E., Schwarz, N. (eds.) (1999): Well-being: The Foundations of hedonic psychology. New York: Russell Sage (vybrané kapitoly, WB99).
  • * Kahneman, D. (2011): Thinking, fast and slow. New York: Farrar, Straus and Giroux (popularizující kniha).
  • Thaler, R. H. (ed.) (1994): The Winner’s curse: Paradoxes and anomalies of economic life, Princeton: Princeton University Press (vybrané kapitoly).
  • * Wilkinson, N. (2008): An introduction to behavioral economics. Houndmills: Palgrave Macmillan. [resp. + Klaes, M.  (2012), Revised Edition.]

Rozvrh přednášek:

1. Úvod kurzu + Metodologie behaviorální a experimentální ekonomie (design a ne/výhody laboratorního v. přirozeného experimentu) [+ „Jak vytvořit design experimentu.“ a „Kde hledat data.“]

* Henrich, J., Heine, S. J., Norenzayan, A. (2010): The weirdest people in the world? Behavioral and Brain Sciences 33, str. 61-83.
Gul, F., Pesendorfer, W. (2008): The Case for mindless economics, v The Foundations of positive and normative economics: A Handbook (Handbooks in Economic Methodologies), A. Caplin and A. Schotter (ed.). New York: Oxford University Press, str. 3-42.
Hertwig, R., Ortmann, A. (2001): Experimental practices in economics: A methodological challenge for psychologists? Behavioral and Brain Sciences 24, str. 383-403.
(*) Levitt, S. D., List, J. A. (2007): What do laboratory experiments measuring social preferences reveal about the real world? Journal of Economic Perspectives 21, str. 153-174.
Smith, V. L. (2002): Method in experiment: rhetoric and reality. Experimental Economics 5, str. 91-110.
Smith, V. L. (2003): Constructivist and ecological rationality in economics. American Economic Review 93, str. 465-508.

2. Ekonomie a psychologie coby různé pohledy na stejný problém? Co jsou to heuristiky a kdy ne/můžeme hovořit o i/racionálním chování? Koncept omezené racionality.

* Gigerenzer, G. (2008): Why heuristics work. Perspectives on Psychological Science 3, str. 20-29.
* Kahneman, D. (2003): Maps of bounded rationality: Psychology for Behavioral Economics. American Economic Review 93, str. 1449-1475.
(*) DellaVigna, S. (2009): Psychology and economics: Evidence from the field. Journal of Economic Literature, str. 315-372.
Frederic, S. (2005): Cognitive Reflection and Decision Making. Journal of Economic Perspectives, 19 (4), str. 25-42.
Marewski, J., Gaissmaier, W., Gigerenzer, G. (2010): Good judgments do not require complex cognition. Cognitive Processing 11, str. 103-121.
Rabin, M. (2002): A Perspective on psychology and economics. European Economic Review 46, str. 657-685.
Simon, H. (1956): Rational choice and the structure of the environment. Psychological Review 63, str. 129-138.

3. Pozitivní psychologie — ne/dosažitelné cíle lidského snažení (sociální komparace, hédonická adaptace).

* Frey, B., Stutzer, A. (2002): What can economists learn from happiness research? Journal of Economic Literature 40, str. 402-35.
* Easterlin, R. A. (2003): Explaining happiness. Proceedings of the National Academy of Sciences, 100(19), str. 11176-11183.
(*) Kahneman, D., Krueger, A. B., Schkade, D. A., Schwarz, N., & Stone, A. A. (2004): A Survey Method for Characterizing Daily Life Experience: The Day Reconstruction Method. Science, 306(5702), str. 1776-1780.
Ariely, D., Loewenstein, G., Prelec, D. (2003): Coherent arbitariness: Stable demand curves without stable preferences. Quarterly Journal of Economics, str. 73-105.
Frederick, S., Loewenstein, G. (1999): Hedonic adaptation. str. 302-328 v WB99.
Gilbert, D. T., Wilson, T. D. (2009): Why the brain talks to itself: sources of error in emotional prediction. Philosophical Transaction of Royal Society B: Biological Sciences 364, str. 1335–1341.
Iyenigar, S. S., Lepper, M. R. (2000): When choice is demotivating: Can one desire too much of a good thing. Journal of Personality and Social Psychology 79, str. 995-1006.
Kahneman, D., Krueger, A. B., Schkade, D., Schwarz, N., Stone, A. A. (2006): Would you be happier if you were richer? A focusing illusion. Science 312, str. 1908-1910.
Kahneman, D. (1999). Objective happiness. str. 3-25 v WB99.

4. Závislost na okolí: Prospektová teorie I. — refereční bod, averze ke ztrátě, majetnický sklon, chyba statutu quo, rámování a ukotvení situace. Mentální účetnictví.

* Kahneman, D., Knetsch, J. L., Thaler, R. H. (1991): Anomalies: The endowment effect, loss aversion, and status quo bias. Journal of Economic Perspectives 5, str. 193-206.
* Tversky, A., Kahneman, D. (1981): The Framing of Decisions and the Psychology of Choice. Science, New Series 4481, str. 453-458.
(*) Kahneman, D., Tversky, A. (1979): Prospect theory: An Analysis of decision under risk. Econometrica 47, str. 263-291.
List, J. (2003): Does market experience eliminate market anomalies? Quarterly Journal of Economics 118, str. 41-71.
Epley, N., Mak, D., Idson, L. C. (2006): Bonus of rebate? The impact of income framing on spending and saving. Journal of Behavioral Decision Making 19, str. 213-227.
Benartzi, S., Thaler, R. H. (1995): Myopic loss aversion and the equity premium puzzle. Quarterly Journal of Economics 110, str. 73-92.
(*) Camerer C. (2000): Prospect theory in the wild: Evidence from the field. str. 148-161 v A04.
Kahneman, D., Knetsch, J. L., Thaler, R. H. (1990): Experimental tests of the endowment effect and the Coase theorem. Journal of Political Economy 98, str. 1325-1348.
(*) Thaler, R. H. (1999): Mental accounting matters. Journal of Behavioral Decision Making 12, str. 183-206.

5. + 6. Potěšení ze sázky: Prospektová teorie II. — averze k riziku a k nejistotě, efekt jistoty, nelineární hodnocení pravděpodobností (+ reprezentativní a dostupnostní heuristika). Nadměrný optimismus.

* Loewenstein, G., et al. (2001): Risk as feelings. Psychological Bulletin 127, str. 267-286.
(*) Tversky, A., Kahneman, D. (1974): Judgment under Uncertainty: Heuristics and Biases. Science, 185(4157), str. 1124-1131.
Silva-Risso, J. et al. (2012): Projection Bias in the Car and Housing Markets. NBER Working Paper No. 1821.

Pokračování, Informační kaskády a úvod do ekonomie pozornosti.

* Bikhchandani, S., Hirshleifer, D., Welch, I. (1998): Learning from the behavior of others: Conformity, fads, and informational cascades. The Journal of Economic Perspectives, 12, str. 151-170.
* Huberman, G., Regev, T. (2001): Contagious speculation and a cure for cancer: A nonevent that made stock prices soar. The Journal of Finance, 56(1), str. 387-396.
Akerlof, G., Dickens, W. (1982): The Economic consequences of cognitive dissonance. American Economic Review 72, str. 307-319.
Bénabou, R., Tirole, J. (2002): Self-confidence and personal motivation. Quarterly Journal of Economics 117, str. 871-915.
Hoelzl, E., Rustichini, A. (2005): Overconfident: Do you put your money on it? Economic Journal 115, str. 305-318.
Hung, A., Plott, Ch. (2001): Information cascades: Replication and an extension to majority rule and conformity-rewarding institutions. American Economic Review 91, str. 1508-1520.
Vitaglione, G. D. (2012): Driving Under the Influence (of Mass Media): A Four-Year Examination of NASCAR and West Virginia Aggressive-Driving Accidents and Injuries. Journal of Applied Social Psychology 42(2), str. 488-505.
Levav, J., Argo, J. J. (2010): Physical contact and financial risk taking. Psychological Science 21, str. 804-810.
(*) Slovic, P., Peters, E. (2006): Risk perception and affect. Current Directions in Psychological Science 15, str. 322-325.

7. + 8. Neodolatelná přitažlivost zítřka: mezičasové volby, problém omezené sebekontroly, přeceňování přítomnosti.

* Frederick, S., Loewenstein, G. and O’Donoghue, T. (2002). Time discounting and time preference: A Critical review. Journal of Economic Literature. 40(2), 351-401.
DellaVigna, S., Malmendier, U. (2006): Paying not to go to the gym. American Economic Review 96, str. 694-719.
O’Donoghue, T., Rabin, M. (1999): Doing it now or doing it later. American Economic Review 89, str. 103-124.
(*) O’Donoghue, T., Rabin, M. (2000): The Economics of immediate gratification. Journal of Behavioral Decision Making 13, str. 233-250.
Ikeda, S., Kang, M., Ohtake, F. (2010): Fat debtors: Time discounting, its anomalies, and body mass index. ISER Discussion Paper No. 732.

Pokračování, (Sebe)zavazování, prokrastinace, chyby v hodnocení budoucnosti a pamatování minulosti.

* Ariely, D., Wertenbroch, K. (2002): Procrastination, deadlines, and performance: Self-control by precommitment. Psychological Science 13, str. 219-224.
* Burger, N., Lynham, J. (2010): Betting on weight loss … and losing: personal gambles as commitment mechanisms. Applied Economics Letters, 17(12), str. 1161-1166.
(*) Gilbert, D. T., Wilson, T. D. (2007): Prospection: Experiencing the future. Science 317, str. 1351-1354.
Akerlof, G. (1991): Procrastination and obedience. American Economic Review 81, str. 1-19.
Loewenstein, G., O’Donoghue, T., Rabin, M. (2003): Projection bias in predicting future preferences. Quarterly Journal of Economics 118, str. 1209–1248.
Read, D., Van Leeuwen, B. (1998): Predicting hunger: The effects of appetite and delay on choice. Organizational Behavior and Human Decision Processes 76, str. 189-205.
(*) Zimbardo, P., Boyd, J. (2010): The Time paradox, The New psychology of time that will change your life. New York: Free Press.

9. + 10. Sociální strategie (sobeckost, altruismus, reciprocita, rovnost, sociální status) a Úvod do behaviorální teorie her.

* Fehr, E. and Gächter, S. (2000): Fairness and retaliation: The Economics of reciprocity. Journal of Economic Perspectives 14, str. 159-181.
* Kahneman, D., Knetsch, J., Thaler, R. (1986): Fairness as a constraint on profit-seeking: Entitlements in the market. American Economic Review 74, str. 728-741.
(*) str. 318+ v Ho, T. H., Lim, N., Camerer, C. F. (2006): Modeling the Psychology of Consumer and Firm Behavior with Behavioral Economics. Journal of Marketing Research 43(3), str. 307-331.
(*) Camerer, C., Ho, T., Chong, K. (2001): Behavioral game theory: Thinking, learning and teaching.
Camerer, C. (2003): Behavioral game theory: Experiments in strategic interaction. Princeton: Princeton University Press.
Gigerenzer, G., Goldstein, D. G. (1996). Reasoning the fast and frugal way: Models of bounded rationality. Psychological Review 103, str. 650-669.
Falk, A., Kosfeld, M. (2006): The Hidden cost of control. American Economic Review 96, str. 1611-1630.
Fehr, E., Gäther, S. (2000): Cooperation and punishment in public goods experiments. American Economic Review 90, str. 980-994.
Fehr, E., Schmidt, K. (2000): Fairness, incentives and contractual choices. European Economic Review 44, str. 1057-1068.
Sunstein C. R. (2005): Moral heuristics. Behavioral and Brain Sciences 28, str. 531-573.

Pokračování, Vnitřní a vnější motivace.

* Gneezy, U. et al. (2011): When and Why Incentives (Don’t) Work to Modify Behavior. Journal of Economic Perspectives 25(4), str. 191-210.
Gneezy, U., List, J. (2006): Putting behavioral economics to work: Testing for gift exchange in labor markets using field experiments. Econometrica 74, str. 1365–1384.
Bénabou, R., Tirole J. (2006): Incentives and prosocial behavior. American Economic Review 96, str. 1652-1678.
Kreps, D. (1997): Intrinsic motivation and extrinsic incentives. American Economic Review 87, str. 359-64.

11.  Hromadné psychologické jevy = ekonomie? Stádní chování, bubliny na trzích, behaviorální finance.

(*) Hirshleifer, D. (2001): Investor Psychology and Asset Pricing. The Journal of Finance, 56(4), str. 1533-1597.
Odean, T. (1999): Do investors trade too much? American Economic Review 89, str. 1279-1298.
Barber, B., Odean, T. (2001): Boys will be boys: Gender, overconfidence, and common stock investment. Quarterly Journal of Economics 116, str. 261–292.
Cooper, M. J., Dimitrov, O., Rau, P. R. (2001): A rose. com by any other name. The Journal of Finance 56(6), str. 2371-2388.
Hirshleifer, D. A., Shumway, T. (2003): Good day sunshine: Stock returns and the weather. Journal of Finance 58, str. 1009–1032.
Lamont, O., Thaler, R. (2003): Can the market add and subtract? Mispricing in tech stock carve-outs. Journal of Political Economy 111, str. 227-268.
Smith, V. L., Suchanek, G., Williams, A. (1988): Bubbles, crashes and endogenous expectations in experimental spot asset markets. Econometrica 56, str. 1119-1151.

12. Pokračování + „Ekonomie a psychologie” finanční a hospodářské krize.

* Barberis, N., Thaler, R. H. (2003): A survey of behavioral finance. National Bureau of Economic Research.
(*) Gärling, T., Kirchler, E., Lewis, A., van Raaij, F. (2010): Psychology, financial decision making, and financial crises. Psychological Science in the Public Interest 10, str. 1–47.(*) Levine, R. (2010). An autopsy of the US financial system: accident, suicide, or negligent homicide. Journal of Financial Economic Policy, 2(3), 196-213.
Baker, M., Wurgler, J. (2006): Investor sentiment and the cross-section of stock returns. Journal of Finance 61, str. 1645-1680.
Brunnermeirer, M. K. (2009): Deciphering the liquidity and credit crunch 2007-2008. Journal of Economic Perspectives 23, str. 77-100.
Shleifer, A., Vishny, R. (2010): Unstable Banking. Journal of Financial Economics 97, str. 306-18.

13. Normativní ekonomie — existuje řešení a kdy jej můžeme zvolit, hospodářská politika.

* Camerer, C. F. (2006): Wanting, liking, and learning: Neuroscience and paternalism. University of Chicago Law Review 73, str. 87-110.
Camerer, C. F., et al. (2003): Regulation for conservatives: Behavioral economics and the case for „asymmetric paternalism”. University of Pennsylvania Law Review 151, str. 1211-1254.
Jolls, Ch., Sunstein, C. R. (2006): Debiasing through law. Journal of Legal Studies 35, str. 199-241.
Thaler, T., Sunstein, C. R. (2003): Libertarian paternalism. American Economic Review 93, str. 175-179.

Prezentace:

5IE312_13_LS_2013_final

5IE312_11-12_LS_2013_final

5IE312_09-10_LS_2013_final

5IE312_07-08_LS_2013_final

5IE312_05-06_LS_2013_final

5IE312_04_LS_2013_final

5IE312_03_LS_2013_final

5IE312_02_LS_2013_final

5IE312_01_LS_2013_final

Tento syllabus a prezentace byly vytvořeny i za pomoci grantu FRVŠ 861/2013.