Topics in behavioral theory

ECS572 Topics in behavioral theory

Spring 2024

  • Topics

    This course aims to introduce recent advances in modeling behavioral biases and incorporating them into economic applications. The course will focus on applications in I.O. and in political economy and will consider biases such as sampling-based reasoning, limited attention, and belief and causal misspecifications. In particular, we will discuss a recent literature that proposes a theoretical framework for incorporating the notion of narratives into economic models. The course is aimed for a broad range of students who are interested in studying - both theoretically and empirically - the implications of behavioral biases to questions in fields such as industrial organization, public economics, development, health economics, and political economy.

  • Learning outcome


    At the end of the course, students will:

    • be able to explain the recent advances in behavioral economics
    • be able to incorporate behavioral biases into mainstream economic models in a variety of areas
    • be able to discuss the impact that biases such as sampling-based reasoning, limited attention and causal misperceptions have on market and political outcomes


    At the end of the course, students will be able to formulate new research questions in behavioral economics.

    General competence

    At the end of the course the student will be able to read theoretical papers and effectively communicate the core insights.

  • Teaching

    There will be plenary lectures, class discussions and student presentations.

  • Restricted access

    •PhD candidates at NHH.

    •PhD candidates from University of Bergen.

    •PhD candidates from other higher educational institutions.

    •Promising master students if approved by course responsible.

  • Recommended prerequisites

    Master level Microeconomic Theory.

  • Credit reduction due to overlap


  • Compulsory Activity

    Course attendance and participation in discussions.

  • Assessment

    Individual written assignment due 8 weeks after course ends. The assignment must be written in English.

  • Grading Scale



ECTS Credits
Teaching language


Course responsible

Professor Kfir Eliaz, Eitan Berglas School of Economics, Tel Aviv University and Norwegian School of Economics (main course responsible)

Heidi Thysen, Department of Economics, Norwegian School of Economics