- Docente: Diego Lanzi
- Credits: 6
- SSD: SECS-P/01
- Language: English
- Teaching Mode: In-person learning (entirely or partially)
- Campus: Rimini
- Corso: Second cycle degree programme (LM) in Service Management (cod. 6804)
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from Nov 12, 2025 to Dec 11, 2025
Learning outcomes
At the end of the course students are able to manage analytical tools useful to understand and make decisions in conditions of imperfect and incomplete information, risk and uncertainty. Students learn how to deal with intertemporal choices, strategic interaction and the problems arising from information asymmetry and transaction costs
Course contents
During the course, results and insights of behavioral economics are introduced at an intermediate level, with important ideas like framing effects, prospect theory, present bias, inequality aversion, and focality explained in detail. These insights are also applied in diverse settings to show you why behavioral economics is crucial to understanding the world around us. In particular, some applications for development, discrimination, and the environment close the course.
Program
1. Behavioral Economics: the intellectual backdrop (lectures 1 and 2)
2. From the old to the new behavioral economics (lectures 2 and 3)
3. Some simple heuristics for complex choices: satisfying behavior, reference points and framing effects (lecture 4)
4. Prospect Theory and preferences reversals (lecture 5)
5. Exponential and hyperbolic discounting: the problem of time inconsistency of choice (lecture 6)
6. Multiple equilibria in games and focal principles (lecture 7)
7. Social preferences (lecture 8)
8. Behavioral economics in context: Applications for development, discrimination, and the environment (lectures 9 and 10)
Readings/Bibliography
Cartwright E. (2011), Behavioral Economics, Routledge, London (Chapters 1,2,3,4,6,7)
Wilson A. (2020) “Behavioral Economics in Context”, Global Development Centre, Boston
Loewenstein G., Angner E. (2006) “Behavioral Economics”, in Handbook of the Philosophy of Science Vol.5, Elsevier, New York
Other reading material will be provided during the classes
Teaching methods
Lectures, teamworks
Assessment methods
One written exam over the entire program, worth up to 20/30 points and consisting of one open question and a very short essay on a topic selected by the student.
The grade is graduated as follows:
<18 failed
18-23 sufficient
24-27 good
28-30 very good
30 e lode excellent
Teaching tools
Office hours: by appointment.
Office hours
See the website of Diego Lanzi