Consumer and Managerial Decision Making
Code
2329
Academic unit
null
Department
null
Credits
3,5
Teacher in charge
Luís Fructuoso Martinez
Teaching language
English
Objectives
This course introduces Masters students to the field of behavioral decision making. The main focus is on the ability to a better understanding of the mechanisms, clues and limitations lying behind individuals decisions.
Prerequisites
N/A
Subject matter
- Introduction
- Rational decision making
- Behavioral decision making
- Common biases and psychological traps in decision making
- Additional managerial examples
- Tips for improving decision making
Bibliography
Mandatory
BAZERMAN, Max H.; Moore, Don A. (2013). Judgment in managerial decision making (8th edition).
Hoboken, NJ: John Wiley & Sons.
HARDMAN, David (2009). Judgment and decision making: Psychological perspectives. West Sussex, UK: BPS Blackwell.
ARIELY, Dan (2010). Predictably irrational: The hidden forces that shape our decisions (revised and expanded edition). NY: Harper Perennial.
DRUMMOND, Helga (2012). Guide to decision‐making: Getting it more right than wrong. Suffolk, UK:
The Economist Newspaper Ltd.
HBR´S 10 must reads (2013). On making smart decisions. Boston, MA: Harvard Business Review Press.
KAHNEMAN, Daniel (2011). Thinking, fast and slow. NY: Farrar, Straus and Giroux.
PowerPoint slides for the lectures and class handouts. Exercises and cases to discuss in class. Additional readings will be provided during the course.
Teaching method
The course will be delivered through twelve sessions (two each week), following a theoretic-practical approach. The sessions will consist of both lectures on course topics (mainly expositional) and presentations of group work delivered by the students (following an active and participative learning-teaching methodology). Students should also prepare for class discussions by reading the mandatory literature and doing the recommended exercises every week.
One lecture will include an experienced guest speaker from the corporate world, who will present a topic related to behavioral decision making and discuss practical issues with students.
Thus, the following learning-teaching methodologies will be used:
Expositional - Presentation of the theoretical reference frameworks.
Participative - Illustration, analysis and resolution of application exercises.
Active - Conducting individual and group work.
Self-study - Related to students autonomous work, which will help them to integrate and consolidate their knowledge.
All these teaching methodologies will allow students to accomplish the intended learning objectives.
Thus, the following learning-teaching methodologies will be used:
Expositional - Presentation of the theoretical reference frameworks.
Participative - Illustration, analysis and resolution of application exercises.
Active - Conducting individual and group work.
Self-study - Related to students autonomous work, which will help them to integrate and consolidate their knowledge.
All these teaching methodologies will allow students to accomplish the intended learning objectives.
Evaluation method
Students should also prepare for class discussions by reading the mandatory literature and doing the recommended exercises every week.
A. Final individual exam (40%) The final exam is mandatory. Students must obtain a minimum grade of 9.5/20 to pass. Students are not allowed to consult reading materials. B. Group assignment (50%) Group work on a specific DM topic. Students should form groups of 3‐4 people, hand in a written report and deliver an oral presentation. C. Individual assignments and class participation (10%) A set of short exercises and questions related to topics discussed during the classes.