This course introduces students to the main concepts and tools of judgement and decision-making, drawing on the most recent evidence from behavioural sciences, psychology and economics to explain what motivates decisions and action.
It maps out the decision-making process and provides a holistic review on how heuristics guide decisions, what factors affect this process and what systematic mistakes we make without consciously realising it. The course is concerned with how judgement and subsequent decisions can maximize the value for us and others.
Course Content:
• Judgment and Decision Making
• Heuristics and fast decisions
• Systematic errors and thinking systems
• Economic decisions and Prospect Theory
• Economic decisions and Mental Accounting
• Emotion and decision making
• Practical applications
• Ecological rationality
• Reinforcement theory
• Nudge theory
