Rational Irrational Decision Making

The course will introduce the core models of rational decision making used in economics, discuss their empirical and normative content, and explore how these rational models can be augmented to incorporate common instances of irrational decision making. The course material will draw from research in decision theory, revealed preference theory, behavioral economics, and experimental economics. The course is well-suited for students interested in understanding and analyzing choices to make predictions and perform welfare analysis even when decision makers violate common economic assumptions.