Judgement in Decision Making

label Diverse autorenew 2025-09-29, 17:01 history_edu Ioana Dinescu
Research in behavioural economics and cognitive psychology in the recent decades demonstrates that we are all prone to predictable, systematic errors in judgment and decision making, and, furthermore, that we are to a large extent unaware of this fact.This course provides an interdisciplinary overview of judgement and decision making processes and focuses on psychology of decision making, the often unconscious biases and mechanics of intuitive, heuristic based decisions. In addition, it aims to train the students in formal analysis and strategies that facilitate rational decision making.The course emphasises experiential learning through a combination of theoretical discussions, cognitive and interpersonal exercises, and applied decision-making simulation cases with a view to provide a theoretical understanding as well as experiential familiarity with the phenomena under examination.The course will provide an overview of the field of behavioural decision making with a focus on processes of decision-making under conditions of uncertainty and strategic interdependence.In the first part of the course, the students will be trained in decision analysis and applied game theory. That will provide basis for understanding the psychology of poor decisions, focusing on behavioural decision science of psychology of intuitive, heuristics and bias driven suboptimal decisions prevalent in international relations, business, and law. In this context, the course will cover topics of attention and effort, cognitive ease, anchoring, information availability-biases, issues of judgmental overconfidence, and bounded awareness in strategic settings such as irrational escalation of commitment, overbidding and the winner's curse. The course will conclude with the basic notions of Kahneman and Tversky's Nobel Prize-winning Prospect Theory.

Period
28-07-2014 - 15-08-2014 (3 weeks)

Target group
The course is designed for anyone with an interest in decision-making, and is particularly relevant for the students interested in management, international relations and law.

Course aim
The course aims to:Train the students in formal decision analysis and basic game theory analysis;Provide an overview of different theoretical perspectives and interdisciplinary descriptive research in the field of decision making;Enable the students to audit their own decision making process and the decisions of others in light of recent research on heuristics and biases in decision science, and consequently to improve the students effective decision making skills.



Credits
0.0 ECTS credits

Course fee
GBP 1430[Convert to USD]tuition fee only

Course leader
Mihael A JeklicMihael Jeklic teaches negotiation and decision-making at Kings College London, University College London, Queen Mary University London, Universidade Catlica Portuguesa and University of Kent. Between 1998 and 2006 he worked in the cit

King's College London
Address: Strand, London
Postal code: WC2R 2LS
City: London
Country: United Kingdom
Website: http://www.kcl.ac.uk/summerschool
E-mail: summerschool@kcl.ac.uk
Phone: +44 20 7848 1533