Improving Decision Making and Public Policy: Lessons from Behavioral Economics
Mellon Room in the Northeast Harbor Library, 1 Joy Road, Northeast Harbor.
Why do we sometimes fail to act in our own best interests? Traditional economic models of decision-making assume that people make decisions in a “rational” manner. These models work well – until they don’t. This course provides an introduction to a relatively new field – Behavioral Economics – that draws on the fields of economics, psychology, and neuroscience, to provide a better explanation of what influences the choices we make. Governments and companies the world over are now using behavioral insights to design/improve their policies (often called “nudging”). We will examine these efforts – successes, lessons learned, and ethical issues. No math prerequisite.
About the instructor
Sheila Nataraj Kirby (PhD, Economics) was a senior economist at RAND, a non-profit think tank, for over 30 years. She served as a Senior Fellow at NORC at the University of Chicago from 2012-2017. Her two primary research fields were education and defense and she has published extensively in both areas. Sheila held a joint appointment as an adjunct professor of economics and public policy at The George Washington University where she taught economics, statistics, and public policy at the graduate level for 25 years. This is her second offering of this course for ASC.