ECON 416 · Behavioral Economics
Each app runs entirely in the browser — nothing to install, nothing to submit. Use them to build intuition before and after the corresponding lecture.
Set bounds on the composition of an urn, then watch a maxmin decision maker refuse to buy or sell a lottery at the same price. Move the price, the risk attitude and the bounds to see when inertia appears and when it vanishes.
Ambiguity · maxmin expected utility · inertia and reservation prices
Launch app →Compare exponential and hyperbolic discounting side by side, and watch a plan made today get overturned by the same preferences tomorrow. Shows where time-consistent and present-biased agents diverge.
Intertemporal choice · hyperbolic discounting · naive and sophisticated agents
Launch app →Assuming rational preferences, recover an utility function from the consumer choices.
Economic rationality · monotonicity · utility representation
Launch app →Draw budget sets, pick the chosen basket, and test whether the choices you make are consistent with maximizing some preference relation at all.
Choice under certainty · revealed preference · budget sets
Launch app →