Prague Summer School on Behavioral Economics and Psychology

Over the past ten years we have witnessed a significant increase of scientific studies that analyze day-to-day decision making by using psychological tools and experimental designs, now called behavioral economics. This new approach provides more accurate accounts of human behavior by exhibiting that we, as humans, are constrained by limited will-power.

Insights obtained from behavioral economic research can be used to design new institutional settings that will help people avoid the negative consequences of their systematic errors in decision making, yet maintain the freedom of choice for those who wish to diverge from the norm.

Students will deepen their knowledge of decision making and its fallacies, explore behavioral economics' role in policy making and public institutional settings, and discover its implications in the realm of organizational management. Participants will design their own experiments under the supervision of the lecturers, conduct them, and present their results to the other participants, who will subject them to critical discussions to gain valuable insight into the sphere of behavioral economics.