Course syllabus RS - Consumer choice, experiments and reality (ŠAVŠ - Sklad předmětů)

     Czech          English          

Course title: Consumer choice, experiments and reality
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Course supervisor:
Supervising department:
Prerequisites for registration:
Time allowance: full-time, 0/2 (hours of lectures per week / hours of seminars per week)
part-time, 0/8 (lectures per period / seminars per period)
Type of study:
Form of teaching:
Mode of completion and credits: Classified fulfillment of requirements (3 credits)
Course objective:
The course is an introduction to experimental economics, its methods, and main fields of research. Objective of the course is to teach students to use experimental methods for answering selected questions of customers decision making. Emphasis will be put on the practical understanding of experimental methodology, its implementation in reality and in laboratory and on the discussion of the achieved results. The course is interdisciplinary, the relevant knowledges of behavioral sciences (psychology, cognitive science, and biology) will be presented to the students. Students are expected to have a basic knowledge of statistics.
Course methods: Course is based on the experimental economics lectures and on:

- activity of students in the experiments,
- discussion of required readings (i. e. preparation and presentation of a short review paper to basic field studies),
- collaborative work on the design, implementation and evaluation of a simple experiment (term paper),
- presentation of the results within the course conference,
- peer-review to term papers of others.
Course content:
Methodology of experimental economics: methods of the elicitation of preferences, beliefs and biases; internal and external motivation, laboratory vs. field vs. natural experiments. Experimental tools. (allowance 0/0)
Basic principles of decision making (reference point, expectation, framing, mental accounting, learning). (allowance 0/0)
Coordination and cooperative games. Negotiation. Market institutions and trading. (allowance 0/0)
4.Social preferences: inequality aversion, positive and negative reciprocity (punishment). Public goods game. Charity. In/Equity. (allowance 0/0)
5.Dis/trust, dis/honesty. Discrimination in markets. (allowance 0/0)
Time preferences: self-control, procrastination, self-commitment tools. Saving. Financial decisions and financial literacy. (allowance 0/0)
Risk preferences. (allowance 0/0)
Auction. Behavioral finance (financial markets, exchange, bubbles). Betting and prediction markets. (allowance 0/0)
9.Manipulation and Influence; Economics of Attention. Social pressure, advertising and experimental marketing (neuromarketing). (allowance 0/0)
Market design. Nudging and the architecture of choice. Field experiments in economic policy. (allowance 0/0)
11.Presentation and discussion of the term papers. Peer-review. (allowance 0/0)
Learning outcomes and competences:
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Teaching methods and workload (hours of workload):
Type of teaching method
Daily attendance
Combined form
Direct teaching
     Attendance of courses/seminars/tutorials24 h
24 h
     Course reading and ongoing preparation
18 h
18 h
     Ongoing evaluation28 h28 h
     Composing of individual (seminar) work30 h30 h
     Preparation for final test
12 h
12 h
112 h
112 h
Assessment methods:
Requirement type
Daily attendance
Combined form
Active lecture/seminar/workshop/tutorial participation
20 %
20 %
Term paper
40 %
40 %
10 %
10 %
Final test30 %30 %
100 %100 %
Course completion:
Students will be rated on the basis: the activity at the experiments on lecture (i.e. scores in experimetal games), the level of discussion of required readings (i.e. preparation and presentation of short paper to basic field studies) and the design, implementation and evaluation of the simple experiment and presentation of the results (i.e. hypothesis testing by an experiment made in team of 2 – 3 students) and an review report to others papers. The course ends with a final test.

Special conditions and details: The activity on lectures will be evaluated by points from experiments (5 %). Students will also by evaluated by required articles summaries (15 %), the preparation, implementation and presentation of results of experimental study (40 %) and writing the opponent report to other students study (10 %) and a final test (30 %).
Support for combined/distance forms of study:
The learning materials are: required readings – the books and textbooks; and within the information system available: required and recommended original articles, powerpoint presentations and handouts – learning support to each topic.
Reading list:
KLAES, M. -- WILKINSON, N. An Introduction to Behavioral Economics, 2nd Edition. New York: Pelgave Macmillan, 2012. 592 p. ISBN 978-02-3029-146-1.
Language of instruction: Czech
KAHNEMAN, D. Myšlení rychlé a pomalé. 1st ed. Brno: Jan Melvil Publishing, 2012. ISBN 978-80-87270-42-4.
CIALDINI, R B. Vliv.: Síla přesvědčování a manipulace. 1st ed. Brno: BizBooks, 2012. ISBN 978-80-265-0041-4.

CAMERER, C F. Behavioral Game Theory: Experiments in Strategic Interaction. Princeton: Princeton University Press, 2003. 544 p. ISBN 978-06-9109-039-9.
CASSAR, A. -- FRIEDMAN, D. Economics Lab: An Intensive Course in Experimental Economics. London: Routlege, 2005. 248 p. ISBN 978-04-1532-402-1.
LIST, J. -- GNEEZY, U. The Why Axis: Hidden Motives and the Undiscovered Economics of Everyday Life. New York: PublicAffairs, 2013. 288 p. ISBN 978-1-6-1039-311-9.
HOLT, C. Markets, Games, & Strategic Behavior. -: -, 2006. 560 p. ISBN 978-03-2141-931-6.
ROTH, A E. -- KAGEL, J H. The Handbook of Experimental Economics. Princeton: Princeton University Press, 1997. 740 p. ISBN 978-06-9105-897-9.
SHAFIR, E. -- MULLAINATHAN, S. Scarcity: Why Having Too Little Means So Much. New York: Times Books, 2013. 304 p. ISBN 978-0-8-0509-264-6.

Study plans:
Field of study N-EM-GPME Marketing Management in the Global Environment, full-time form, initial period SS 2014/2015, place of teaching Mladá Boleslav
Run in the period of:
Course tutor: prof. Ing. Stanislav Šaroch, Ph.D. (supervisor)
Teaching language:
Czech, English
Mladá Boleslav

Last modification made by Mgr. Luděk Švejdar on 05/23/2019.

Type of output: