Due to the Corona virus education methods or examination can deviate. For the latest news please check the course page in Brightspace.

Prospectus

nl en

The Psychology of Economic Behaviour

Course
2021-2022

Entry requirements

Only open to Master’s students Psychology.

Description

Economic behaviour is essentially social behaviour. Behaviours like gambling, saving, bargaining, consumption all refer to social contexts. As a consequence, social psychology has much to offer to economics. In this course we will focus on what social psychology can contribute to the understanding of such economic behaviours. We will seek answers to questions like:

  • How does personality come into play?

  • How rational is economic behaviour?

  • What about emotions?

  • Are we only motivated by self-interest?

  • How do we deal with uncertainty?

In the search for answers we will concentrate on how the assumptions of economic theory compare to the most recent insights in social psychology. For this purpose we will read and discuss up-to-date articles in economic and psychological journal articles and book chapters as well as classic studies that had a major impact on the development of psychological and economic theory. Students will prepare the meetings by reading the literature, and actively participate in the discussions. The course will end with a final exam.

Course objectives

Upon completion of this course, students:

  • Have specialised knowledge of social psychological theories about behaviour and decision-making in social contexts and organisations;

  • Have thorough knowledge of subjects (within and beyond the specialization) that may be of importance for the use of these theories (i.e., social psychology, behavioural economics); and

  • Can at basic level make use of theories that are common in social psychology.

Timetable

For the timetable of this course please refer to MyTimetable

Registration

NOTE As of the academic year 2021-2022, you must register for all courses in uSis.
You do this twice a year: once for the courses you want to take in semester 1 and once for the courses you want to take in semester 2.
Registration for courses in the first semester is possible from early August. Registration for courses in the first semester is possible from December. The exact date on which the registration starts will be published on the website of the Student Service Center (SSC)

By registering for a course you are also automatically registered for the Brightspace module. Anyone who is not registered for a course therefore does not have access to the Brightspace module and cannot participate in the first sit of the exam of that course.
Also read the complete registration procedure

Mode of instruction

7 2-hour seminars/lectures and final 3-hour exam.

Assessment method

Written final exam.

The Institute of Psychology follows the policy of the Faculty of Social and Behavioural Sciences to systematically check student papers for plagiarism with the help of software. Disciplinary measures will be taken when fraud is detected. Students are expected to be familiar with and understand the implications of this fraud policy.

Reading list

Readings available via ‘Blackboard’. Exemplary literature includes:

  • Iyengar, S, & Lepper, M. (2000). When choice is demotivating: Can one desire too much of a good thing? Journal of Personality and Social Psychology, 79(6), 995-1006.

  • Kahneman, D, & Tversky, A. (1984). Choices, values, and frames. American Psychologist, 39(4), 341-350.

  • Bastardi, A, & Shafir, E. (1998). On the pursuit and misuse of useless information. Journal of Personality and Social Psychology, 75(1), 19-32.

  • Gilbert, D, Morewedge, C, Risen, J, et al. (2004). Looking forward to looking backward – The misprediction of regret. Psychological science, 15(5), 346-350.

  • Wang, L., Zhong, C., &Murnighan, J. K. (2014). The social and ethical consequences of a calculative mindset. Organizational Behavior and Human Decision processes, 125, 39-49.

  • Shaffer, V, & Arkes, H. (2009). Preference reversals in evaluations of cash versus non-cash incentives. Journal of Economic Psychology, 30(6), 859-872.

Contact information

Prof.dr. Eric van Dijk dijk@fsw.leidenuniv.nl