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ORG419-1 Judgement and Decision Making
On successful completion of this course the student should be able to:
- give an overview of important normative, descriptive and prescriptive models of judgment and decision making.
- analyse and show a broad understanding of the normative and descriptive theories of judgment and inference, with reference to their use in practice.
- recognising irrationality in oneself and others and propose ways of improving judgments and inferences.
- identify and analyse processes of judgment, inference and choice within specific contexts and discuss the factors affecting the decision making.
The objective of the course is to foster habits of thought and provide tools which will lead to better decision making. This is achieved by learning how to identify and avoid some common types of judgmental errors and to recognize and predict these errors. The questions that will be dealt with in the course are: 1) how should we make decisions, 2) how do we make decisions, and 3) what can we do to improve our decision making? Amongst the many topics considered will be: probability judgment, heuristics and biases, utility measurement, judgment of correlation and contingency, risk, choice under certainty, choice under uncertainty, utilitarianism, fairness, social dilemmas, moral judgments, motivational and affective influences on decisions, and judgment about the future.
Lectures, class discussions, compulsory student assignments and presentations.
Approved compulsory assignments and presentations.
4-hour written examination with graded marks.
Second cycle i.e. master level.
Normally fourth year.
Student Adviser Anne Line Omsland.
The syllabus will be published on the home page of the course when finalised. See link in the upper right hand corner of the page.
Faculty of Economics and Social Sciences