Program Outline

outline3The Sumer School classes will focus on:

Dual system of decision-making – are we emotional or rational driven
People do not make decisions based solely on rational analyses as this would be ineffective and non-optimal in a world of limited resources and time constraints. Moreover, as Damasio has showed, in the absence of emotions, cold rational reasoning can lead to worse outcomes than decision influenced by fear, anger or other affective states. Therefore dual system of decision-making seems to be a more efficient way to integrate emotions with rational deliberation. While this dual system serves us well in many everyday situations, it can also lead to errors. The current research helps us understand these systematic errors, predict them and even avoid them.

Dishonesty of honest people – bastards within nice people
From the point of view of traditional economic theories, decisions to violate law or act dishonestly are motivated solely by a cost-benefit analysis: what can I get by criminal or immoral behavior and what negative consequences I risk (in the case I got caught). Behavioral economics expands this view substantially: based on many psychological studies, it seems obvious that dishonest behavior is influenced by a range of many other subtle factors, from motivation to have a positive self-image, saliency of social and formal norms, to emotional states experienced in the moment of decision making. We will also discuss how to use all this knowledge in order to make people more honest in a workplace and in everyday situations.

Fairness – killing the killer
Yet another departure from traditional rational model of human being has been developed by reconsidering views on fairness in our decision-making. A certain behavior, although being rational and benefiting all concerned, is rejected by those involved as repulsive and not acceptable. Is cutting wages during the economic downturn fairer than laying people off? Can you sell the last bottle of water you brought to the Sahara desert for more than the earlier one without being lynched? Similar questions posed in classes on economics might have simple answers, however when you ask general public, you might be surprised for getting rather different answers. The course will discuss and analyze the role of fairness in human decision-making as well as valuation of these decisions by others.

Sources of the information – hoaxes or reliable information
Biases identified by behavioral research prove to have wide applications in everyday life. In general, people use the mass media as a crucial source of information and believe in unbiasedness of media, but it is not always the case. For example, some media supply rather leftist while the other stick to the rightest news.

In the same time, media supply great amount of data thanks to which we are able to study the biases of “old media” as well as new social media such as Facebook. The course answers questions of why you should read newspapers you don’t like, why your Google account makes you dumber or how to take advantage of information provided by new media.

Behavioral errors in organizations – being a very happy employee (or employer)
We will present an overview of empirical evidence from the behavioral organizational economics which will extend standard model of worker’s behavior. We will emphasize four stylized extensions: the worker’s reference dependent decision-making, influence of reciprocity between an employer and an employee (gift-exchange theory), importance of extrinsic and intrinsic motivation (and possible crowding-out effect), and the impact of relative performance compensation on the cooperation, reciprocity and sabotage in firms. The course will also address main (mis)behavioral regularities in managers‘ decision-making, mostly on their over-optimism, leadership styles and corporate culture.

The most effective way of learning is experience. Employing knowledge and tools provided during the lectures students will be required to conduct their own experiment and present its results before their colleagues. Students will be welcome to come up with their own creative ideas and solutions in experiment proposals and will be supported in the actual practical realization of experiments. In addition to utilization of their existing knowledge students will gain understanding of practical problems and limitations of experimental design.

Schedule (Preliminary)


12.00 – 18.00   Registration

18.30 – 19.30   Orientation / Ice Breaking Session /Egle Havrdova/

20.00                  Welcome Dinner /Restaurant “Hlučná Samota”, Záhřebská 14/



10.00 – 11.15   Introduction to Program

11.15 – 11.30   Coffee Break

11.30 – 12.45   Lecture 1

12.45 – 15.00   Lunch

15.00 – 18.00   Tours of Prague

19.00                  Dinner /Restaurant “Hlučná Samota”/



09.30 – 10:45    Lecture 2

10.45 – 11.00    Coffee Break

11.00 – 12.15    Lecture 3

12.15 – 13.00    Lunch

13.00                   Departure for site visit

14.00 – 15.00    Site visit

16.30 – 17.30    Guest Lecture

18.00 – 19.00    Happy Hour /Café v Lese/

19.30                   Dinner /Restaurant “Hlučná Samota”/



09.30 – 10.45    Lecture 4

10.45 – 11.15    Coffee Break

11.15 – 12.30    Lecture 5

12.30 – 14.00    Lunch

14.00 – 15.15    Workshop 1

15.15 – 15.30    Coffee Break

15.30 – 16.45    Workshop 2

17.30 – 18.30    Guest Lecture

19.00 – 20.00    Dinner /Restaurant “Hlučná Samota”/

21.00                   Clubbing in Prague



Free Day!!!:       Tours of Prague /Pool Party/ Trip to Kutna Hora

20.00                   Dinner /Restaurant “Hlučná Samota”/

22.00                   Czech Movie at the Summer School venue



09.30 – 10.45    Lecture 6

10.45 – 11.00    Coffee Break

11.00 – 12.15    Lecture 7

12.15 – 13.30    Lunch

13.30 – 14.45    Workshop 3

14.45 – 15.00    Coffee Break

15.00 – 16.15    Workshop 4

17.30 – 18.30    Guest Lecture

19.00                   Dinner /Restaurant “Hlučná Samota”/

21.00 – 23.00    Boat Tour



09.30 – 10.45    Lecture 8

10.45 – 11.00    Coffee Break

11.00 – 12.15    Workshop 5

12.45 – 16.00    Lunch / Free Time

17.00                   Departure for Gröbeho vila

17.30 – 19.00    Commencement

20.00                   FAREWELL PARTY/Gröbeho vila, Havlíčkovy sady, Praha 2/






Petr Koblovsky, Ph.D., LL.M. (Yale)

Petr holds diplomas from several universities, including Charles Univeristy in Prague and Yale Law School. He also spent one year as a visiting scholar at Harvard Law School. He has extensive experience of lecturing at universities as well as working as a commercial lawyer (e.g. Allen and Overy). His research interests include law and economics of property and contracts, behavioral economics and moral psychology.


Marek Havrda, Ph.D.

Marek is co-founder of Prague Summer Schools. Since 2014 he is a member of Impact Assessment Board an advisory body to the Czech Government. He worked in the European Commission (Health and Consumers Directorate General) where he helped design better EU regulation (contributed to the first uses of behavioral economics for policy making at the EU level). Before joining the European Commission he directed consultancy, which worked for: i.a. Czech Government, KPMG and GE, and led Prague-based think-tank promoting good-governance. Now back in Prague working on a start-up connecting behavioral research and information technology – if interested please visit . Marek has also served as advisor to several Government Departments, currently advising the Czech Ministry on Education, Youth and Sports. Academics: MAs in Economics and International Studies and Ph.D. in Public and Social Policy (Charles University, Prague), MA in Sociology (Lancaster University / CEU), MPA (Warwick Business School), Fulbright Visiting Researcher (Johns Hopkins University). Marek co-authored a book on anti-corruption strategies using behavioral insights.


Ján Selep

Ján graduated from the master’s program of economic analysis in the Faculty of Economics in Prague University and a Master’s student in Finance, Financial Markets and Banking at the Institute of Economic Studies, Faculty of Social Sciences, Charles University.  He also studied at the Bocconi University in Milan and took part in Study-Internship Program at George Mason University. He worked as a research assistant with a focus on data analysis at the Department of Institutional Economics NF UEP. At the same faculty also co-founded the Behavioral economics society. His research interests lie mainly in the field of forensic economics.


Ludmila Hadincova

After spending an academic year at the Arizona State University in the framework of a foreign exchange program, Ludmila has graduated from the University of Economics, Prague, where she has also been a research assistant. In 2012 she co-founded the Behavioral Economics Society, an organization for students interested in the field of Economics & Psychology. Ludmila is the author of several publications, including Endowment Effect – Do We Appreciate Information from Books More?


Vojtech Zika

Vojtěch is a behavioral economist concerned mainly with the effects of “cognitive illusions” on human behavior and decision-making. He believes that those errors had evolved as an ecological adaptation to the environment in which human lived for millions years and served as an ultimate tool for survival of mankind. This topic is also subject of his doctoral studies at the Department of Evolutionary and Theoretical Biology at the Charles University (Faculty of Natural Sciences). During his master studies at the University of Economics (Faculty of Economics) and Charles University (Faculty of Social Sciences), he did research on how the Time-saving bias affects fuel economy in a firm and how context of media content influences its perception. Since 2015, Vojtěch is working on a start-up bringing behavioral science into practice.


Robin Kopecký

Robin is a researcher and PhD candidate at Charles University in Prague. He graduated with a degree in Philosophy (Faculty of Arts) and degree in Evolutionary biology (Faculty of Science). His main research topics are moral psychology and experimental philosophy.


Julie Novakova

Julie Novakova is a Czech author of science fiction and detective stories. She published six novels, one anthology and about thirty stories in Czech and started publishing short stories in English in 2013. She is also a regular contributor of the Czech SF magazine XB-1, publishing both fiction and nonfiction there, and a student of evolutionary biology at the Charles University in Prague. She participates in the Writing Workshop in Prague as an instructor.


Petr Houdek

Petr Houdek, is a lecturer at Charles University and a Ph.D. candidate at the University of Economics in Prague. He also teaches at the Department of Economics at the University of Jan Evangelista Purkyně. As a Ph.D. candidate he is involved in research on “reasons why people cooperate and punish each other” at the Department of Evolutionary and Theoretical Biology at the Faculty of Natural Sciences, Charles University in Prague. His economic research involves experimental and behavioral economics, particularly in the areas of decision-making on health issues, finance or partner selection. He regularly publishes articles on behavioral economics research in the national newspapers.

Apply now! Applications are reviewed on rolling basis.