RSM3058H: The Psychology of Judgement and Decision Making

This course introduces students to the origins, the theory, the methods, the debates and the style, of research in the discipline of Judgment and Decision Making (JDM). The course starts with a historical overview of the emergence and the underlying philosophy of the field. We will dive deep into two major approaches to studying JDM. One of the approaches has roots in expected utility theory and is characterized by a demonstration of violations and the foundations of a new approach; while the other approach is rooted in cognitive psychology and pushes for models of different styles of decision-making and the decision of which model to use in making decisions. Topics covered will include utility theory, heuristics and biases, cognitive foundations of learning and hypothesis testing, contingent decision making, context based choice, mental accounting, intertemporal choice, judgment and decision engineering, the role of emotions in decision-making, choice architecture and applied behavioural science. Assessments include class participation (presentations/discussion), short research idea papers, and a final exam or paper.

0.50
St. George