Advanced Experimental and Behavioural Economics (ECON3028) exam notes

Advanced Experimental and Behavioural Economics (ECON3028) Exam Notes – University of Nottingham provides a thorough and detailed resource of 47 pages that played a significant role in achieving an 86% in the exam. These notes encapsulate the entire course, presenting an extensive exploration of key topics in experimental and behavioral economics.

Covering a wide range of subjects, the notes delve into complex economic behaviors and phenomena such as the Endowment Effect, where individuals value owned goods more than those not owned. Risky Decisions and the Preference Reversal Phenomenon are examined to understand inconsistencies in choice under risk and changing preferences. Topics on Dynamic Decisions offer insights into decision-making processes that unfold over time.

The notes also provide an in-depth look at Public Goods Games, highlighting the role of cooperation and the impact of Punishment in these settings, particularly how punitive measures affect behavior in economic interactions. Discussions extend to the Grimmer Side of other-regarding preferences and how these influence outcomes in economic games.

Further, the notes address Sequential Bargaining Games, Inequality Aversion, and Cross-Game Consistency, exploring how individuals’ preferences for fairness affect their bargaining behavior and decision-making across different strategic games. Coordination Games and the Equilibrium Selection Problem are explored to understand how groups achieve consensus and select strategies in interactive contexts.

Additionally, Classic Market Experiments and Asset Market Experiments are reviewed, providing insights into market dynamics and the factors that drive behaviors in financial markets.

These exam notes are invaluable for students of the University of Nottingham taking the ECON3028 course, offering a comprehensive review of experimental and behavioral economics. They serve not only as a robust study aid for exam preparation but also as a reference for understanding complex economic theories and their practical applications in real-world scenarios.