Judgment and Decision-Making
Theories and research on heuristics and biases in human inference, judgment, and decision making. Experimental and theoretical work in prospect theory emphasizing loss and risk aversion. Challenges that psychology offers to the rationalist expected utility model; attempts to meet this challenge through integration with modern behavioral economics. Decision-making biases and phenomena of special relevance to public policy, such as group polarization, group think, and collective action. Special Instructions: This course is part of the Master in Public Policy (MPP) Core Curriculum. Instructors in the MPP core curriculum will assume that students are familiar with calculus, intermediate undergraduate microeconomics, and introductory statistics and probability. Ideally, student preparation will equal or exceed the material covered currently at Stanford in Math 41, Econ 1 102A or Stat 60, and Economics 50. This course is cross-listed with School of Humanities & Sciences (PUBLPOL 305A and IPS 207A). Writing (W) credit is for 3Ls only. Elements used in grading: Class participation, midterm exam, and final paper.