WHEN: July 1st – 4th, 2019
WHERE: DCU Business School, Dublin City University
The aim of the 1st ECMCRC Summer School on Behavioral and Neuroscientific research for Economics and Finance is to offer students the opportunity to acquire both theoretical and practical knowledge of the key theories, instruments and techniques currently used to undertake high-impact behavioral and neuroscientific research projects in the fields of economics and finance. This Summer School has been explicitly designed to attract and create practical value for Ph.D. students and post-doctoral researchers, and to seed future research collaborations among participants. Hands-on sessions focusing on the use of neurobiofeedback, eye tracking and data analytics will follow more theoretical lectures which will provide attendees with a grounding in behavioral economics and finance, experimental economics and neuroeconomics. Each day of the Summer School will conclude with a short keynote presentation aiming to provide examples of industry applications of behavioral research and advice on how to design and publish high-impact research and establish and manage an academic career.
Day 1 (July 1st)
15:00-16:00: Ice Breaking Activity
This session includes a series of small activities designed to facilitate the interaction between attendees. Attendees will have the opportunity to introduce themselves, get to know each other, and to engage in short team-building activities.
Dr Alessandro Rasetta, University of Chieti-Pescara
16:00-17:00: Behavioral Economics: Nature and Culture in Decision Making
Behavioral economics uses psychological experimentation to develop descriptive theories about human decision making. This session aims to explain the role of human nature in economic decisions by answering the following questions: how do human beings make their own decisions? how do they assign values to economic goods? how do they assign probability to uncertain events? what is the role of physiological, psychological and social conditions in decision making? What are the tools and methods that economic research can use to answer these questions?
By Prof Riccardo Palumbo, University of Chieti-Pescara
17:00-18:00: Behavioral Finance
This session aims to introduce participants to behavioral theories of finance and financial decision making, and to critically compare and contrast such theories. Participants will be brought through a number of examples demonstrating how “real” market participants do not always correspond to the rational agents and outcomes described in traditional finance courses. A number of qualitative and quantitative methods to test whether markets are prone to certain heuristic-driven biases will be down discussed in details.
By Dr. Vikash Ramiah, University of Wollongong Dubai
Day 2 (July 2nd)
09:00-10:00: Experimental Methods in Economics
Economic experiments are conducted in controlled laboratory environments in order to test economic theory, look for behavioral regularities, formulate new theories to explain unpredicted regularities and make policy recommendations by testing new policies and fine-tuning existing ones. This session will be an introduction to the theory and practice of experimental economics. A number of theory-driven classroom experiments will be conducted in order to let students either confirm theoretical predictions or identify systematic deviations from the theories they have learned in the previous course. This session aims to teach students how to set up an economic experiment and to show them how economic experiments are useful in reshaping economic thinking.
By Professor Giuseppe Attanasi, University of Nice
10:00-11:00: Strategizing and attention in games
This session will bring students through two groups of studies designed to explore strategic reasoning and attention in games. The first group of studies uses neuroimaging results from the beauty contest game to identify a network associated with strategic thinking and to show how the brain does not distinguish learning from reasoning. The second group of studies leverages eye-tracking to measure the dynamic patterns of visual information acquisition in games. In a first study, participants played one-shot two-player normal-form games in which either, neither, or only one of the players had a dominant strategy. This method allows to predict whether the decision process would lead to equilibrium choices or not, and to attribute out-of-equilibrium responses to limited cognitive capacities or social motives. In a second study, eye-tracking is used to test whether players’ actions are consistent with their expectations of their opponent’s behavior. Implications for the theories of bounded rationality will be discussed.
By Professor Giorgio Coricelli, University of Southern California
11:30-18:00: Data Analytics for Behavioral Research
This session is designed to help students understand how to leverage data analytics to capture individuals’ emotions and to analyze data gathered through different tools used in behavioral research. The course is divided into two main sections: a theoretical introduction in the morning aiming to discuss the challenges of working behavioral data and the main techniques to overcome such challenges; a hands-on session in the afternoon where students will learn how to analyze sentiment, facial expressions and physiological recordings using R. This course will equip students with both a theoretical and practical knowledge of the main analytics tools and techniques to manipulate and investigate different types of behavioral data. Previous knowledge of R is not required although beneficial.
By Dr. Damien Dupré, DCU Business School
18:00-18:30: Publishing High Impact Research
This session is designed to provide insight into the process of publishing high impact research including identifying high impact topics, understanding the requirements of top tier journals, managing the review process and tips for maximizing impact post-publication.
By Dr. Lisa Van Der Werff, dotLAB/ DCU Business School
Day 3 (July 3rd)
09:00-13:00: Psychophysiology and decision making: Neurobiofeedback applications
Psychophysiology studies interactions between mind and body by recording how the body is functioning and relating those recorded functions to behavior. Changes in physiology, due to environmental modifications, cause changes in behavior particularly in the decision-making domain. The fundamental concept in psychophysiological research concerns the idea of an objective feedback which allow to increase our awareness about internal and external modifying factors and so, to avoid potential inefficient decisions. The ability to recognize and control internal physiological signals can be assessed and trained by using the neurobiofeedback system. In this session participants will be introduced to the main theoretical foundations of neurobiofeedback application in economic decision settings and will be involved in practical exercises focused on how to prepare an experiment and analyze neurobiofeedback data.
By Ms. Loreta Cannito and Prof Riccardo Palumbo, University of Chieti-Pescara
14:00-18:00: Eye tracking for Research
This session combines theory and hands-on exercises to teach you how to use and what to consider when integrating eye tracking into the research methodology. Participants will gain the theoretical, practical and methodological know-how needed to enable them to start to integrate eye tracking into their own research and testing projects. Topics covered in this sessions include: getting to know how visual system works and how vision is related to attention; learn how the eye tracker operates and best practices to collect good eye tracking data; and learn to adjust the experimental design for eye tracking.
By Dr. Ben Marshall, Tobii Pro
18:00-18:30: Post-Doc Career Development
Getting an academic career off the ground can be one of the most challenging moments for young researchers. The pressure of getting published is undeniable but finding ideas worth investigating and productive research collaborations takes time. This session aims to discuss potential solutions to cope with the pressure while building up a research pipeline that could lead to the next stage of the career.
By Dr. Pierangelo Rosati, DCU Business School
Day 4 (July 4th)
This full-day session is explicitly designed to facilitate new research collaboration. Participants will be assigned to groups of four. Each group will have to decide a research topic they would like to investigate in the following 12 months and formulate a complete research proposal by the end the day. Short pitches of group ideas will occur during the morning coffee and lunch breaks. Each team will then present their proposal to a panel at the end of the day; the two best proposals will be invited to present again as part of the Behavioral Finance and Economics track of the 3rd ECMCRC Workshop the day after. Participants will be mentored and supported by the teaching team during the whole day.
DCU Business School
The Summer School will take place in Dublin City University Business School, Glasnevin Campus, Dublin 9. DCU is located a short distance from Dublin city centre, Dublin Airport and the M50 and M1 motorways. The campus is bordered by Ballymun Road and Collins Avenue.
DCU is serviced by the following buses which stop outside the University at the Ballymun Road and Collins Ave entrances, or near to the university with stops on the Swords Road and Glasnevin Avenue.
DCU is serviced by the following routes: 4,9, 13, 105, 11, 116, 46X, 58X, 77B:
- Number 105 operates from Malahide and leaves DCU at 15.40 and 17.20 during term time.
- Numbers 11 service the city centre and Kilmacud from Wadelai Park and stops in O’Connell Street.
- Number 116 services DCU to Ballinteer and Clonskea.
- Numbers 46X and 58X (zone 2) run from Leeson Street Lower to Dublin Airport.
- Number 77X runs from Jobstown to DCU, however there is no departure from DCU.
Bus Eireann recently launched the new service from Navan – Ratoath – Dunshaughlin – Dublin Airport – DCU.
Details on the new 109A bus route are available from the Bus Eireann website.
- 100X – Dundalk, Drogheda, Dublin via the Swords Road
- 101 – Drogheda, Balbriggan, Dublin via the Swords Road
The terminus of the 17A bus is at Howth Junction Dart Station. The 103 and 104 buses operate via Clontarf Dart Station
Drumcondra Train Station
Maynooth Station to Drumcondra Station via Leixlip, Castleknock, Coolmine and Ashtown areas
From Drumcondra train station, you can take the following buses to DCU: 3, 11, 11A, 11B, 16, 16A, 33, 41, 41B, 41C
Heading Southbound on the M1
Proceed along the M1 until you come to the roundabout that intersects with the M50 (Junction 3). Proceed southbound along the M50 and take the Ballymun exit (Junction 4). Take the free-flow lane to the left and drive through Ballymun. Turn left at the Collins Avenue/Ballymun Road crossroads. DCU is located on Collins Avenue 500m on the right hand side.
Drive through the Westlink toll bridge and continue along the M50 until the Ballymun exit (Junction 4). At the traffic lights on the roundabout, take the third exit and drive through Ballymun. Follow the directions for DCU as outlined above.
From city centre
Follow the airport road which takes you through Drumcondra along the N1, towards the M1. Continue past the junction for Griffith Avenue until you reach the junction at Whitehall. At this crossroads turn left onto Collins Avenue. DCU is 500m on the left hand side.
To book your place, you will need to:
1. Submit the following documents to email@example.com with “Summer School Application” in the subject line.
- Your curriculum vitae
- An extended abstract of your current/prospective project(s) (Max 1,000 words)
- A motivational letter
- A letter of support from your supervisor/PI.
2. Once approved, you will receive an email confirming your place and provide you with further instructions on registration. Registration:
- €300.00 until 30 April 2019
- €350.00 until 31 May 2019
- €400.00 until 30 June 2019
Applications can be submitted from 15th of March 2019.
Below is a list of recommended accommodation options, which are best suited for accessing the Dublin Bus public transport system. Each recommended accommodation options is less than five kilometres from the DCU Glasnevin Campus.
Location: Dublin City University, Glasnevin, Dublin 9, Ireland
- Single Room B&B – €70
- Double/Twin Room B&B – €100
The Bonnington Hotel Dublin
Location: Swords Rd, Whitehall, Dublin 9, D09 C7F8
Distance from DCU Glasnevin Campus: 1.8km
Dublin Skylon Hotel
Location: 27 Drumcondra Rd Upper, Drumcondra, Dublin, D09 V1Y2
Distance from DCU Glasnevin Campus: 2.2km
Maldron Hotel Parnell Square
Location: Parnell Square W, Rotunda, Dublin, D01 HX02
Distance from DCU Glasnevin Campus: 4.4km
Booking: Reference “DCU” to get 10% discount on the best available rooms.
Holiday Inn Express Dublin City Centre
Location: 28-32 O’Connell Street Upper, Rotunda, Dublin
Distance from DCU Glasnevin Campus: 4.7km
Temple Bar Inn
Location: 40-47 Fleet St, Temple Bar, Dublin 2, D02 NX25
Distance from DCU Glasnevin Campus: 5.5km