Dr Barbara Fasolo

This course is compulsory on the Executive MSc in Behavioural Science. This course is not available as an outside option.

This course introduces students to the fascinating field of behavioural “decision” science. We will explore a selection of current research topics relevant to personal and managerial decision making as well as policy-making. For each topic students will get acquainted with key psychological phenomena and principles of behavioural decision science through interactive lectures, and become alert to cognitive biases and learn how to overcome them. Students will read pre-assigned scientific articles and in class discuss lessons learned, limitations and implications of these concepts for the development of decision making competence in their organisation (e.g. via design of policies, training programmes, or tools). Topics will include: Origin of Behavioural Decision Science; the Building Blocks of Behavioural Decision Science: Preferences, Utility and Value; Probability, Uncertainty and Risk; Choice Architecture and Behavioural Change; Heuristics and Biases in Decisions about Money, Health, Consumer Products and People.

17 hours and 30 minutes of lectures and 5 hours of seminars in the LT.

Students will be expected to produce 1 essay in the LT.

Ariely, D. (2008). Predictably Irrational: The Hidden Forces That Shape Our Decisions. Harper Collins;

Baron, J. (2000), Thinking and Deciding (3rd edition), Cambridge: Cambridge University Press;

Bazerman, M. (2006) Judgment in Managerial Decision Making. New York: Wiley. 6th edition;

Beach and Connolly (2005), The Psychology of Decision Making: People in Organizations, (2nd Edition), Sage;

Hastie, R., and Dawes, R.M. (2001). Rational Choice in an Uncertain World. Sage Publications, Thousand Oaks;

Kahneman, D. (2011) Thinking Fast and Slow. London: Allen Lane;

Plous, S. (1993), The Psychology of Judgment and Decision Making, New York: McGraw Hill;

Russo, J. E. & Schoemaker, P. J. H. (2002) Winning decisions: How to make the right decision the first time, Piatkus Publ. Limited;

Sunstein, C.R. Thaler, R.H. (2008) Nudge - New Haven, CT: Yale University Press;

Yates, F. J. (2003). Decision Management: How to Assure Better Decisions in Your Company. Jossey-Bass.

Essay (40%, 2000 words) and take home exam (60%) in the LT.