BEHAVIOURAL ECONOMICS

Where do standard economic models explain behaviour, and where must they change?

 

Behavioural economics combines traditional microeconomic theory with psychologically realistic assumptions informed by empirical evidence. Research spans behavioural decision theory and behavioural game theory, examining how attention, beliefs, preferences, social influences and context shape economic choices. Drawing on experiments, field studies and observed behaviour, researchers identify important departures from conventional assumptions, develop alternative formal models and revisit fundamental questions in microeconomics.

The group holds weekly lab meetings, bringing together researchers from across the University and beyond. Behavioural economics also features periodically in the Nuffield Economic Theory seminars.

For further information on CESS