题目：Cognitive Bias and Public Policy

主讲人：连大祥 教授（美国德州大学圣安东尼奥分校）

时间：2017年12月19日晚 18:30-20:55

地点：研楼608

主讲人介绍：

        连大祥，加州理工学院经济学博士，美国德州大学圣安东尼奥分校商学院教授，前董事长助理、东亚研究中心主任、美国刘氏基金项目负责人、刘尚俭杰出首席商学教授，在新加坡国立大学、南洋理工大学、清华大学、加拿大维多利亚大学、英国里丁大学及密苏里大学堪萨斯城分校等担任访问教授或讲座教授。在国际经济、金融类顶级期刊Journal of Development Economics, Journal of Econometrics, Journal of Banking and Finance, Journal of International Economics主要期刊上发表论文300余篇，根据澳洲SIRCA的统计资料，以2001-2005在19个主要的国际金融期刊发表文章的加权数计算，连大祥教授排名世界第一。连大祥教授现担任国际主流金融学期刊International Review of Financial Analysis，Research in International Business and Finance，Emerging Markets Trade and Finance副主编，同时担任International Review of Economics and Finance等10余本国际知名金融类期刊编委。

内容介绍：

        The notion of cognitive biases was introduced by Daniel Kahneman in 1972. The study explained human differences in judgment and decision making in thinking fast or thinking slow, experiencing self or remembering self and so on. A Frederick Puzzle was put forward, for example, a bat and a ball cost $1.10 in total, and the bat costs $1 more than the ball, then how much does the ball cost? Frederick found that many intelligent people yield to this immediate impulse 50% (47/93) of Princeton students, and 56% (164/293) of students at the University of Michigan gave the wrong answer. In addition, the case of Mary has given a description of "Mary" that suggested Mary was quiet, studious and concerned with social issues. She majored in English literature and environmental studies at college. Given this information, indicate (a) Mary is a librarian, (b) Mary is a librarian and a member of the Sierra Club, (c) Mary works in the banking industry. Nofsinger (2008) reported that more than half of his subjects typically answer (b), a quarter to a third choose (a), and the remainder select (c). From the previous study, it can be speculated that any aspect of the choice architecture alters people’s behavior in a predictable way without forbidding any options or significantly changing their economic incentives. Nudge is not mandate, and it is easy and cheap to avoid the intervention. Therefore, people may most need a good nudge for choices that have delayed effects for those that are difficult, infrequent, and often poor feedback, and those for which the relation between choice and experience is ambiguous. Moreover, Biases can be distinguished on a number of dimensions such as status quo bias, availability bias, representativeness, loss aversion, overconfidence, self-control and follow the herds, etc. Overall, this lecture introduce the relationship between cognitive bias and public policy.

（承办：应用经济系，科研与学术交流中心）