Course
Behavioural Economics
Testing a theory of choice against patterns of preference, and reading what a descriptive model does and does not establish.
Finishing this course means you have demonstrated the required skills with the level of support this course currently assesses.
- Modules
- 1
- Lessons
- 1
- Skills
- 1
- Starting here
- Assumes 1 prior topic
The route
Module 1: Decision under risk
Expected utility as a representation theorem, the common-consequence pair whose two preferences demand contradictory values of the same utility, the independence axiom these preferences violate, and the weighting function a descriptive model substitutes.
- The learner can compute the expected value of a prospect, derive the inequality a stated preference imposes on a utility function, demonstrate that a common-consequence pair of preferences admits no solution, and distinguish a violation of the theory's axioms from mere risk aversion or from a taste the theory permits.
What finishing means
Finishing this course means you have demonstrated the required skills with the level of support this course currently assesses.
1 required skill. If you reach a lesson without the background it assumes, you are pointed at the prerequisite first, and returned here afterwards.
How progress is measured
Progress is inferred from evidence you produce, not from pages you have opened. Each required skill moves through states as evidence accumulates: met, practicing with help, performed unassisted, then performed again after a delay.
This course counts a skill as finished atguided. Where the system cannot admit evidence for a stronger claim — for instance when the only available scoring is your own judgment of your written answer — the skill stays at the state the evidence supports, and the reason is shown rather than hidden.