BA6203 THEORIES IN DECISION SCIENCES
| Course Code: | 3126203 |
| METU Credit (Theoretical-Laboratory hours/week): | 3 (3.00 - 0.00) |
| ECTS Credit: | 8.0 |
| Department: | Business Administration |
| Language of Instruction: | English |
| Level of Study: | Graduate |
| Course Coordinator: | Res.Dr. HATİCE GONCA BULUR |
| Offered Semester: | Fall Semesters. |
Course Objectives
By the end of the course the students will be able to
• attain an understanding on the concepts and theories related with the psychological & behavioral approach to decision making and judgment.
• gain the necessary information and skills to search for and locate recent & relevant literature on a particular subject.
• interpret and criticize experimental & behavioral studies in the literature
• prepare and communicate critique essays to discuss important work on the concepts and theories related with the psychological & behavioral approach to decision making and judgment.
• develop a research proposal based on the concepts and theories learnt
Course Content
Decision making is one of the fundamental processes of human cognition system. It practically lies in the heart of every human activity ranging from the most basic survival activities in the environment to the highly sophisticated activities of strategic planning and tactics formation. This course is intended for PhD-level and aims to convey the core concepts and theories related with the scientific approach to judgement and decision making, incorporating the interdisciplinary inquiry received from the multitude of areas including psychology, business administration, statistics and economics. Topics to be covered include rationality & managerial decision making, dual-system theory, bounded rationality, fast-frugal heuristics, heuristics and biases, social judgement theory, prospect theory, subjective probabilities, the perception of risk and group decision making processes.
Course Learning Outcomes
By the end of the course the students will be able to
• make sense of rationality/bounded rationality, dual-system approach
• make sense of social judgment theory and fast & frugal heuristics
• make sense of heuristics and biases • make sense of and interpret prospect theory
• make sense of subjective probability & communication of uncertainty
• make sense of perception of risk • make sense of group decision making theories
• learn and recall many different experimental designs/setups and their limitations in the literature
• interpret and criticize the results obtained from experimental & behavioral work in the literature
• conduct appropriate search and access the relevant places/websites to find literature from the libraries and on the internet
• participate in team-work to prepare paper critiques to discuss the concepts and theories learnt in the lecture
• effectively communicate this critique to other classmates via oral presentation in English