Each day, we all make numerous decisions. Based on our level of experience, we would thus expect that every one of us is an expert in decision-making. And yet, we sometimes continue to make poor choices and bad decisions – often in a predictable way. In this course, we discuss why even smart people often make bad decisions. Starting from insights on how people ‘should’ make decisions, we turn our focus to understanding how people ‘actually’ make decisions. The goal will be on familiarizing you with a series of well-documented decision-rules and biases, and to help you improve decision-making. We will discuss the relevance of these decision-rules and biases for management decisions (e.g., investment decisions, negotiations etc). During the course, you will perform in a series of decision-making tasks to help you reflect on your personal decision-making style.

The assessment will be based on a group presentation (50%) and an individual report (50%).