Billy Foster, PhD

Billy Foster

Clinical Assistant Professor of Economics at

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The state — or, to make matters more concrete, the government — consists of a gang of men exactly like you and me. They have, taking one with another, no special talent for the business of government; they have only a talent for getting and holding office. Their principal device to that end is to search out groups who pant and pine for something they can’t get, and to promise to give it to them. Nine times out of ten that promise is worth nothing. The tenth time it is made good by looting ‘A’ to satisfy ‘B’. In other words, government is a broker in pillage, and every election is a sort of advanced auction on stolen goods. — Henry Louis Mencken, Prejudices, First Series (1919)

Posts Tagged ‘behavioral economics’

A look at some kids asked to endure the pain that is patience.

Behavioral Economics
Course Numbers:
UIC – ECON 390


“Non decipitur qui scit se decipi: he is not deceived who knows himself to be deceived.”

-Maxim of Roman Law
(from The Student’s Law Lexicon: A Dictionary of Legal Words and Phrases by William Cox Cochran)

“Homo economicus is dead, but whose Homo behavioralis will replace him?”

- Ken Binmore, University College London


This course will discuss recent developments in behavioral economics. The focus will be on economic behavior, heuristics, and experimental economics.


Nudge: Improving Decisions About Health, Wealth, and Happiness
Richard Thaler and Cass R. Sunstein
Publisher: Yale University Press
ISBN: 0300122233

Thinking, Fast and Slow
Daniel Kahneman
Publisher: Farrar, Strauss and Giroux
ISBN: 978-0374275631

Predictably Irrational: The Hidden Forces That Shape Our Decisions
Dan Ariely
Publisher: HarperCollins
ISBN: 006135323X

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