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DILIP SOMAN: Much has been written about the fact that human
decision-making is not perfect, and that we make all kinds of mistakes and
biases in making choices.
We've read, for example, that we are predictably irrational, that we need
to be nudged toward making the right choices, that we make decisions in the
blink of an eyelid, and that we need to be more decisive.
In fact, the field of behavioral economics has painted a picture of
human decision-making that is rather dismal, and doesn't show us in a very
good light.
If you've been intrigued by all of this buzz surrounding behavioral
economics, but just haven't figured out what to do with that knowledge,
this may be the course for you.
In this edX course we'll not only learn the principles of behavioral
economics, but we'll also ask and answer the important
question, so what?
By the end of this course you'll have learned how to apply your knowledge of
behavioral economics to design choice architectures, to design contexts
where you can influence choice, and to come up with behaviorally informed
policy, products, and processes.
You'll learn the basics of experimental design.
You'll learn not only to design your own experiments, but also to analyze
and interpret the results of experiments in the field, as well as
in the laboratory.
You will learn a framework for how to design nudges, how you can actually
influence behavior by changing the context in which a choice is made.
And finally, you'll debate with leading academics as well as with
other experts and your fellow students on various topics that relate to
behavioral economics.
For example, should behavioral economics be used by policy makers to
design policy?
Should, in fact, we allow marketers to use behavioral economics to influence
purchasing decisions?
And finally, is rationality itself damaging to human behavior?
In six weeks you will learn to think and talk like a behavioral economist,
learn to walk the talk with behavioral economics in action.