|Fourth Trento Summer School
program in Adaptive Economic Dynamics
30 June - 11 July 2003
Trento Summer School
Daniel Friedman, University of California, Santa Cruz
David Laibson, Harvard University
Behavioral economics has had an enormous impact on the
economics profession over the past two decades. The most recent Nobel
Prize in Economics and the most recent John Bates Clark Medal have both
gone to behavioral economists. In recent years, behavioral research seminars,
behavioral faculty appointments, and behavioral PhD dissertations have
become common at leading US and European universities. But, most economics
curricula have not yet caught up. Few schools offer coursework in Behavioral
Economics. This year the Trento Summer School offers a comprehensive introduction
to the concepts and theories of behavioral economics. A partial list of
- Heuristics and biases in
- Prospect Theory, including
loss aversion and the endowment effect.
- Framing and mental accounts.
- Social preferences and
theories of fairness, reciprocity and inequity aversion.
- Intertemporal choice and
- Bounded rationality, learning,
and behavioral game theory.
- Evolutionary theories of
preferences and institutions.
- Emotional decision-making.
- Neuroscience, cognitive
science, and genetics.
will use a wide range of methodological tools, including theory, experiments,
numerical simulations, and applied econometrics. The school will survey
recent behavioral applications in finance, labor economics, industrial
organization, public finance, and macroeconomics. Most importantly, the
workshop gives each student the opportunity to launch a new research project
under expert guidance.
intensive course will be co-organized and taught by Daniel Friedman
of the University of California, Santa Cruz and David Laibson
of Harvard. An incomplete list of guest lecturers includes Colin
Camerer of the California Institute of Technology, Stefano
DellaVigna of University of California, Berkeley, Massimo
Egidi of the University of Trento, Ernst
Fehr of the Institute for Empirical Research in Economics, University
of Zurich, George
Loewenstein of Carnegie Mellon University and Ulrike
Malmendier of Stanford.
graduate students and post-docs are encouraged to apply by submitting
a curriculum vitae, a two-page essay describing their interest and background
in behavioral economics. Applicants should also submit a course transcript
from their PhD program, including advanced examinations passed, and two
letters of recommendation.
Applications are due by April 30, 2003.
We encourage electronic
Admissions decisions will be announced by May
26, 2003. All applicants will be informed by e-mail about the results.
The mini-school will be held at Sardagna (Trento,
Italy), a beautiful retreat, accessed by cable car, in the Dolomite Mountains.
All student participants are asked to stay for the entire duration of
the conference. Food and accommodation at the conference will be completely
covered (participants will have to cover travel to the conference).
Please direct logistical questions to the Summer School Secretary, Oxana
This is the
Fourth of a series of intensive courses to be offered by the Computable
and Experimental Economics Laboratory (CEEL).
were offered in Computable Economics (2000, Professor K. Vela Velupillai),
Experimental Economics (2001, Professor Daniel Friedman) and Adaptive
Economic Processes (2002, Professor Peter Howitt).
courses are planned in:
Economic Dynamics (2005).
Director: Axel Leijonhufvud
Co-organizers of the School: Daniel Friedman
and David Laibson
- Colin Camerer of the
California Institute of Technology
- Stefano DellaVigna of University of California, Berkeley
- Massimo Egidi of the University of Trento
- Ernst Fehr, Institute
for Empirical Research in Economics, University of Zurich
- George Loewenstein, Carnegie Mellon University
- Ulrike Malmendier of Stanford
Assistant: Marco Tecilla
The course is offered by the Computable and
Experimental Economics Laboratory CEEL of the University of
Trento, with the financial support of Latsis Foundation (Geneva)
Cassa di Risparmio di Trento e Rovereto (Trento).
and Experimental Economics Laboratory (CEEL)
Dipartimento di Economia
Università degli Studi di Trento
Via Inama 5
Fax: (+39) 0461-882222
For further information please contact the Summer School
Department of Economics
via Inama, 5 I-38100 Trento tel. +39 461 282201