This course offers a comprehensive introduction to normative and descriptive decision theory. On the foundation of rational-choice theory, we examine optimal decision-making of individuals under certainty as well as under risk and uncertainty. We apply the discussed tools to both examples from the field of business administration and to problems from everyday life. This course also covers decision problems in which several agents interact, and analyses these problems with game theoretic tools.
In the descriptive part of the course, we deal with the question how individuals actually make their decisions using the findings from behavioural economics. Students understand in which way individuals depart from fully rational decision behavior.
Target group: Mandatory course for students with the major "Business and Economics" Mandatory course for students with the major "Supply Chain & Information Management" Elective course for students with the minor "Quantitative Methods and Digitization"
Term: Summer Term
Time: Lectures: Prof. Dr. Dominika Langenmayr & Prof. Dr. Simon Wiederhold Tutorial: Philipp Krug & Fabian Mierisch
Instructors: Lectures: Thursdays, 2:15 - 4:00 p.m., HB-101 Tutorial: Thursdays, 10:15 a.m. - 0:00 noon, NB-207*, exceptionally in NB-307 on 23rd of June *please sign up for both tutorials (Part I & Part II) via KU.Campus
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