This course explores how individual decision-making often deviates from the assumptions of perfect rationality, self-interest, and risk aversion in standard economic theory. Drawing on empirical evidence from laboratory and field experiments, students examine predictable patterns in behavior and how these can be formally modeled within an economic framework. Topics include bounded rationality, present bias, loss aversion, and social preferences. Applications demonstrate how behavioral models enhance the explanatory and predictive power of economic theory across a range of contexts.

OWU Units: 1.00, Crosslisting(s): None. Prerequisite(s): C- or better in ECON 252 . Corequisite(s): None. Antirequisite(s): None. Fee: None. Core Competency: None. Offered: TBD.