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Economics of Decisions and Information

ECO 108  Economics of Decisions and Information

Class hours: 42

Credits (ECTS): 6

LM-CU – Specialization in Economy, Sustainability, Communion

Biennial: a.y. 2024-2026

Year: 2nd

Terms: 3rd– 4th

Course held in Italian

The course is an introduction to the science of decision-making, starting with the traditional rational choice approach and moving on to behavioural approaches that take into account the existence of cognitive and emotional biases. Decision-making in strategic interaction is examined through the use of analytical tools such as game theory. The second part of the course introduces information economics and examines decision-making situations characterised by information asymmetries. The aim is to provide students with the basic knowledge to address the main problems arising from the presence of such asymmetries in the economic and organisational spheres, through an accurate analysis of the characteristics and risks associated with these phenomena and the identification of possible solutions to mitigate their negative effects. Applications to management, finance, human resource management and public regulation are presented.

Bibliographical references:

  • Birchler U. – M. Bütler (2007). Information Economics. Routledge.
  • Carmichael F. (2005). A Guide to Game Theory. London, Financial Times Press.
  • Bazerman M. – D. Moore (2013). Judgement in Managerial Decision-Making (8th ed.) New York, Wiley & Sons.
  • Thaler R. – C. Sunstein (2008). Nudge. La spinta gentile. La nuova strategia per migliorare le nostre decisioni su denaro, salute, felicità. Milano, Feltrinelli.
  • Drouvelis M. (2021). Social Preferences: An Introduction to Behavioural Economics and Experimental Research. Newcastle Upon Tyne. Agenda Publishing.

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