MIS41140 Decision&BehaviouralAnalytics

Academic Year 2019/2020

Increasingly, it is recognised that human decision-making is imperfect in systematic ways. The implications are important for business. “Behavioural” refers to studying how humans actually behave, in contrast to how idealised agents would behave.

Topics:
● Decision-making under uncertainty
● Utility theory
● Heuristics and biases
● Prospect theory
● Bubble markets
● Multi-criteria decision-making
● Analytical decision-making processes
● Preference elicitation

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Curricular information is subject to change

Learning Outcomes:

On completion of the module students should be able to:
● Describe the aspects in which human decision-making deviates from idealised decision-making, including uncertain environments, and heuristics and biases
● Describe idealised utility and distinguish prospect theory from it
● Describe a case study in bubble markets
● Explain decision-making with multiple criteria, including the difficulties presented by the problem, and analytical approaches to it.

Indicative Module Content:

Topics:
● Decision-making under uncertainty
● Utility theory
● Heuristics and biases
● Prospect theory
● Bubble markets
● Multi-criteria decision-making
● Analytical decision-making processes
● Preference elicitation

Student Effort Type Hours
Lectures

30

Specified Learning Activities

40

Autonomous Student Learning

40

Total

110

Requirements, Exclusions and Recommendations

Not applicable to this module.


Module Requisites and Incompatibles
Not applicable to this module.  
Assessment Strategy  
Description Timing Open Book Exam Component Scale Must Pass Component % of Final Grade
Presentation: Based on Class Readings Varies over the Trimester n/a Graded No

20

Essay: Based on Class Material Week 9 n/a Graded No

35

Journal: < Based on Class Material> Week 12 n/a Graded No

45


Carry forward of passed components
Yes
 
Remediation Type Remediation Timing
In-Module Resit Prior to relevant Programme Exam Board
Feedback Strategy/Strategies

• Feedback individually to students, post-assessment
• Group/class feedback, post-assessment

How will my Feedback be Delivered?

Feedback for the class tests will be available to students within 2 week of test completion, Students can get feedback face-to-face directly after class. Feedback for Group Presentations will be given directly after the Presentation.

“Thinking, Fast and Slow”, Daniel Kahneman, 2012

“Nudge: Improving Decisions About Health, Wealth, and Happiness,” Richard H. Thaler, Cass R. Sunstein, 2009
Spring
     
Lecture Offering 1 Week(s) - Spring: All Weeks Tues 09:00 - 11:20

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