These days, books about cognitive science, behavioral and decision analysis occupy valuable real estate on the New York Times bestseller list and nearly every CEO’s desk. While we have learned much about the shortcomings of the human mind, few have developed the ability to recognize bias in their own decisions and fewer still have managed to turn an understanding of our inherent weaknesses into a strength.
The purpose of this course is to first introduce the fundamentals of normative and descriptive decision theory. Students will then be challenged to recognize their own vulnerabilities, and those of others, both in their personal lives and as they apply to business decisions. Through a combination of lectures, role playing and case studies, students will learn to think more critically, to develop unique tools that will help them avoid systemic errors in judgement and ultimately, how to turn an inherent flaw into a competitive advantage in the business world.
Recommended: Students should have a basic understanding of statistics and probabilities prior to taking this course.