Faculté des Hautes Etudes Commerciales (HEC)

Objectifs

Good judgment and decision making skills are important, both in private and professional life. Not doubting that making wise decisions can be considered an art, the present course focuses on the scientific aspects. The goal is to equip students with an overview of major paradigms in judgment and decision making research, including both interesting phenomena and theoretical frameworks.

Contenus

We start with historical foundations of behavioral decision making, then (critically) discuss some common judgmental biases and decision traps, have a closer look at models of bounded rationality and at decisions under uncertainty and risk, and finally cover special aspects such as individual and cultural differences, and emotions. Specifically, the list of topics looks as follows (subject to change):

Introduction        

History and Foundations

Heuristics and Biases

Heuristic and Biases Revisited

Intuition - Fast and Frugal Heuristics

Preferential Choices under Risk

Managerial Decision Making.

Références

All materials can be downloaded from the course page. For the slides, two parallel versions exist (one in English, one in French). The literature that is relevant for the exam (journal articles, book chapters) is exclusively in English.

Pré-requis

No

Evaluation

1ère tentative

Examen:

Ecrit 2 heures

Documentation:

Non autorisée

Calculatrice:

Non autorisée

Evaluation:

The final grade will be determined exclusively by the final exam. This exam, in turn, consists of choice questions (about half of the points) and open questions (the other half of the points).

Rattrapage

Examen:

Ecrit 2 heures

Documentation:

Non autorisée

Calculatrice:

Non autorisée

Evaluation:

same conditions as first exam (but different questions).