Behavioural Economics, Policy and Business

On the 28th May, the Geary Institute will hold a major event on “Behavioural Economics, Policy and Business” in Dublin City Centre.

The currently confirmed panelists include Liam Delaney and Colm Harmon of the UCD Geary Institute, Peter Lunn of the ESRI and author of the well-known behavioural economics book Basic Instincts, and Gerard O’Neill, Director of Amarach Research. The event begins at 2pm and ends at 4pm, and will be followed by coffee. The venue is the Institute of Bankers building on North Wall Quay.

The session will begin with a short introduction to the field of behavioural economics. This short introduction will provide a working definition of behavioural economics; a short history of the field; an overview of the major global centres and projects in the area; a description of the most widely cited applications of behavioural economics ideas to real-world problems; and a brief overview of potential applications in the Irish business and policy context.

A wide ranging panel discussion will follow, addressing such questions as:

– What aspects of behavioural economics should particularly interest business people? For example, how is behavioural economics relevant to product development, advertising and marketing? What are the potential regulatory changes emerging from this literature?

– Why should policymakers care about behavioural economics? What is the relevance of behavioural economics to such questions as how we should design taxation and regulation? Is there any role for government to protect citizens from themselves in areas such as financial services?

– What has this new literature to say about economic renewal in Ireland including its relevance to major strategic initiatives such as the Smart Economy and the Strategy for Science Technology and Innovation?

We welcome suggestions for other questions to pose during the panel discussion. There will also be ample opportunity for audience participation.

In order to help us plan the event and print registration details, we would be very grateful if people could RSVP to Emma.Barron@ucd.ie at their earliest possible convenience if they intend attending the event.

The New Development Economics

The current issue of the New Yorker has a profile of Esther Duflo.  In the article, the views of Angus Deaton on the limitations of randomised controlled trials are assessed as wondering if “someone put sand in Angus’s toothpaste”.  Readers will find the offending substance here. 

You will undoubtedly  make your own assessment of the following direct quote from Duflo in the New Yorker piece:  “I want a baby goat” she mused.  “I’ll take good care of it”.

Bernanke on The Economics of Happiness

Ben Bernanke’s speech this weekend focuses on this highly-popular area of research: you can read it here.

Breakfast with Nouriel Roubini

The FT profiles ‘Dr Realist’ – you can read it here.

Global Finance Academy Conference

The 4th Global Finance Academy (GFA) conference will taked place at the University College Dublin (UCD) Michael Smurfit Graduate School of Business on May 26th.

REGISTRATION
The 2010 conference will be held over 1 day on Wednesday 26th May 2010 at the Graduate School of Business campus in Blackrock.

The speakers include Michael Brennan (UCLA), Cal Muckley (UCD), Bart Lambrecht (Lancaster),
Christopher Polk (LSE), Matt Spiegel (Yale) and Hassan Tehranian (Boston).
The conference is free, but delegates must register by emailing the organizer, Cal Muckley (cal.muckley@ucd.ie), as soon as possible or by Friday, May 7th at the latest.