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Judgment and Decision Making

  • Teacher(s):   U.Hoffrage  
  • Course given in: English
  • ECTS Credits: 3 credits
  • Schedule: Spring Semester 2019-2020, 2.0h. course (weekly average)
  •  sessions
  • site web du cours course website
  • Related programmes:
    Bachelor of Science (BSc) in Management

    Bachelor (BSc) in Economic Sciences



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.


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 some applications. Specifically, the list of topics looks as follows (subject to change):


History and Foundations

Heuristics and Biases

Heuristic and Biases Revisited

Intuition - Fast and Frugal Heuristics

Preferential Choices under Risk

Managerial Decision Making


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.



Note that this lecture is closely related to my other class ("Jugdment and Decision Making - Seminar"), not only timewise (the lecture is on Wednesday 10:15-11:45 and the seminar is on Wednesday 8:30-10:00) but also contentwise. While the lecture is teaching ex-catedra, the seminar is highly interactive and hinges on your input and contribution with lots of discussions that deepen your learning. Taking both courses is recommended, but each is designed such that attendence is possible even if you do not attend the other.


First attempt

Written 2 hours
Not allowed
Not allowed

The final grade will be determined exclusively by the final exam. This exam, in turn, consists of choice questions (a bit more than half of the points) and open questions (a bit less than half of the points). Not only the slides will be provided in two languages (English and French), but also the exam will have two parallel versions (English and French) and you can choose among these two.


Written 2 hours
Not allowed
Not allowed

Same conditions as first exam (but different questions).

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