- Docente: Filippo Massari
- Crediti formativi: 5
- SSD: SECS-P/01
- Lingua di insegnamento: Inglese
- Modalità didattica: Convenzionale - Lezioni in presenza
- Campus: Bologna
- Corso: Laurea Magistrale in Economia e politica economica (cod. 8420)
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dal 20/09/2022 al 25/10/2022
Conoscenze e abilità da conseguire
At the end of the course, the student can use, derive, and understand the logic of rational decision theory (e.g., Expected Utility, Bayes' rule). Students will be able to recognize and work with the main behavioural economic models of decision-making (e.g., Ambiguity Aversion, Prospect Theory) and to understand the implications of the law of large numbers applied to repeated decisions.
Contenuti
Individual decisions
- Basics of statistical inference and rational decisions (Strong law of large numbers, Bayes' Rule, Expected Utility, Gambling theory)
- Biased decisions and behavioural decision models (Ambiguity aversion, Prospect theory, Biases in learning)
Collective decisions
- financial markets (Efficient market hypothesis)
- common biases in financial markets
Testi/Bibliografia
There is no unique textbook for this course.
I will provide slides capturing the main ideas from a number of papers and textbooks.
A non-exhaustive list of suggested readings is the following
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Surowiecki, James. ”The Wisdom of Crowds: Why the Many Are Smarter Than the Few and How Collective Wisdom Shapes Business.”
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Taleb, N. Nicholas. The Black Swan: The Impact of the Highly Improbable Fragility.
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Darrell, Huff, and Irving Geis. ”How to lie with statistics.”
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Kahneman, Daniel. ”Thinking, fast and slow. Macmillan”.
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Binmore, Ken. “Rational decisions.”
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Thorp, Edward O. “Beat the dealer: A winning strategy for the game of twenty-one”
Metodi didattici
lectures
Modalità di verifica e valutazione dell'apprendimento
Maybe presentations for partial credits.
Oral exams.
Strumenti a supporto della didattica
slides
Orario di ricevimento
Consulta il sito web di Filippo Massari