The Behavioral Foundations of New Economic Thinking

Models of human behaviour lie at the heart of economics and progress in economics must take into account the latest advances in empirical and theoretical understandings of behaviour. Prof. Dhami is the author of ‘The Foundations of Behavioral Economic Analysis’, a definitive and comprehensive survey of the state of behavioural economics research. In this seminar Prof. Dhami will be interviewed by Prof. Eric Beinhocker, Executive Director of INET Oxford, on the current state of behavioural economics research, major challenges and questions, and exciting areas of new work. They will then engage the group in an interactive discussion on the implications of this work for new economic thinking, including how social preferences and psychological motivations might be integrated into empirically validated models, how behavioural insights might be utilised in methodologies such as agent-based, network models, behavioural game theory, and the possibilities for creating a macroeconomics that is truly micro-founded on empirically rigorous behavioural insights.