Decision Analysis: Behavioral and Psychological Perspective

Course content

Decision analysis is an interdisciplinary field that aims to provide a structured and systematic approach to guide the decision making activities in complex problems. At the same time, it attempts to understand the preliminary mechanisms underlying human judgment as well as the cognitive and psychological factors that affect the mental processes behind managerial decision making. The primary objective of this course is to provide an understanding on this perspective. Topics to be covered include rationality and managerial decision making, analysis of judgment, heuristics and biases, prospect theory, framing effects, the perception of risk and group decision making.