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Judgment and Decision Making

  • Teacher(s): U.Hoffrage
  • Course given in: English
  • ECTS Credits: 3 credits
  • Schedule: Spring Semester 2018-2019, 2.0h. course (weekly average)
  •  séances
  • site web du cours course website
  • Related programme: Bachelor of Science (BSc) in Management

 

Objectives

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.

Contents

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):

Introduction

History and Foundations

Heuristics and Biases

Heuristic and Biases Revisited

Intuition - Fast and Frugal Heuristics

Preferential Choices under Risk

Managerial Decision Making

References

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.

Pre-requisites

No

Evaluation

First attempt

Exam:
Written 2 hours
Documentation:
Not allowed
Calculator:
Not allowed
Evaluation:

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.

Retake

Exam:
Written 2 hours
Documentation:
Not allowed
Calculator:
Not allowed
Evaluation:

Same conditions as first exam (but different questions).



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