23711 Behavioural Game Theory
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Credit points: 3 cp
Result type: Grade and marks
Requisite(s): 23714 Rationality and Incentives AND 23715 Game Theory and Strategic Decision Making
These requisites may not apply to students in certain courses.
There are course requisites for this subject. See access conditions.
Description
This subject addresses current applications of Behavioural Economics tools in the industry and government, specifically in settings of strategic decision making and group decision making.
Subject learning objectives (SLOs)
| 1. | apply insights from psychology to situations of strategic interactions |
|---|---|
| 2. | interpret the role of behavioural factors in strategic decision making and in decision making in groups |
Contribution to the development of graduate attributes
This subject introduces students to a rapidly expanding area of economics and provides students with an understanding of important concepts from both psychology and economic theory. Equipped with these concepts, students will be able to analyse patterns of behaviour in a range of situation where people interact, both within and outside of organisation. The unit will cover the role of values and social feelings in social interactions. The subject material addresses current applications of behavioural economics tools in the industry and government, specifically in settings of strategic decision making and group decision making.
This subject contributes to developing the following graduate attribute(s):
- Intellectual rigour and innovative problem solving
- Professional and technical competence
Teaching and learning strategies
This subject is taught through a blend of online resources, self-directed study and seminars. Subject content will be presented to students in a variety of formats (lecture slides, notes, videos, articles) and delivered both online and in-class. At the beginning of the unit, students are expected to review materials and complete tasks on their own before attending a weekly Zoom review session with the lecturer. Materials will be provided to students on the student management system, but students are also expected to seek information independently.
At the end of the unit, seminars offer face to face interaction to review the material and engage students with the material. Seminars are highly interactive. Students will learn about the behavioural game theory concept and methods and apply these to solve problems and case studies in-class, either individually or in small groups. Interactions and experimentation of different strategic games online will help the student familiarise with the concepts from game theory. Students will receive individual feedback in-class from the lecturer.
It is important to develop your academic and professional language and communication skills to succeed at university and in the workplace. During the course of this subject, you will complete an assessment task that will, in addition to assessing your subject-specific learning objectives, assess your academic English language proficiency.
Content (topics)
- Behavioural game theory
- Time Preferences
- Social preferences
- Paternalism and nudge
Assessment
Assessment task 1: Online Quiz (Individual)*
| Objective(s): | This addresses subject learning objective(s): 1 and 2 |
|---|---|
| Weight: | 35% |
| Criteria: |
*Note: Late submission of the assessment task will not be marked and awarded a mark of zero. |
Assessment task 2: Essay discussing a practical case (Individual)
| Objective(s): | This addresses subject learning objective(s): 1 and 2 |
|---|---|
| Weight: | 65% |
| Criteria: |
|
Minimum requirements
Students must achieve at least 50% of the subject’s total marks.
Recommended texts
[Optional] Angner, Erik. A course in behavioral economics. Bloomsbury Publishing, 2020.
References
Thaler,R.,Sunstein, C. (2003). "Libertarian Paternalism." American Economic Review, 93(2), 175-179.
Kahneman, D., Knetsch, J., and Thaler, R. (1986) “Fairness as a Constraint on Profit Seeking: Entitlements in the Market” The American Economic Review, 76, 728-741.