Energizing Market Activity with Behavioral Economics

In Behavioral Economics taught by Prof. Dan Qin, participants study important psychological, cognitive, cultural, and social factors that shape the decision maker’s behavior in the economic environment, using models of behavioral patterns that are commonly observed, but cannot be incorporated into classical economic theory. These models are essential to understanding consumer behavior, with an emphasis on intuition, real-life experience, and experimental results.

On day 2 of the course, Prof. Dan had his participants carry out a group exercise in a limited amount of time. Using only the resources available to them on hand and on campus, the students were tasked with quickly designing, shooting, and editing a commercial for an energy drink. The results ranged from humorous to amateurish to surprisingly professional--but the exercise itself put participants in the position of advertisers who aim to anticipate consumer behavior and attract target markets with the lure of emotional fulfillment.