Master
2025/2026
Experimetrics
Type:
Elective course (Economics and Economic Policy)
Delivered by:
Department of Theoretical Economics
Where:
Faculty of Economic Sciences
When:
2 year, 2 module
Open to:
students of all HSE University campuses
Language:
English
ECTS credits:
3
Contact hours:
28
Course Syllabus
Abstract
This course will cover a range of statistical tools useful for the analysis of experimental data, with a focus on text data and applications in Behavioural Economics. The majority of the course will be taken up with the estimation of structural behavioural models. The techniques developed in the course will be applied to the core topics of decision-making under uncertainty, social preferences, and bounded rationality. Students will learn how to use experimental data to estimate key parameters from prospect theory (e.g. risk and loss aversion), models of altruism and fairness-concerns, level-k models, and quantal response equilibria. We will explore how these parameters can vary within and across sub-populations using finite-mixture and random-effects models. We will also discuss the "replication crisis", and potential approaches to increase the reliability of experimental findings. Programming in class will be performed in R, however prior knowledge is not required.
Learning Objectives
- Using text data as an input into economic research
- Building structural models to test hypotheses
- Estimation and comparison of structural models
- Knowledge of fundamental behavioural models
Expected Learning Outcomes
- Use R to estimate structural models using maximum likelihood
- Estimate parameters of prospect theory models
- Understand the difference between social norms and social preferences
- Estimate quantal response equilibrium and level K models
- Estimate heterogeneity in preferences based on observed or unobserved characteristics
- Understand the causes of the replication crisis
Course Contents
- The replication crisis
- Text as data
- Maximum likelihood estimation
- Prospect theory
- Social norms and Social preferences
- Level K models
- Quantal response equilibrium
Interim Assessment
- 2025/2026 2nd module0.28 * Homework assignments + 0.22 * Inclass test + 0.5 * Project
