Behavioural Resource Management: Thinking and Decision-Making under Risk and Ambiguity
Verhaltensbasiertes Ressourcenmanagement: Denken und Entscheiden unter Risiko und Ambiguität
6 CPWinterENno longer offered
Contents
In this module, we venture into the specificities of decision-making under risk and ambiguity. We journey through a diverse collection of groundbreaking theories, including many that have laid the basis for Nobel-prize-winning research. We emphasize the interdisciplinary application of the insights, ensuring students from diverse fields can assimilate and apply the knowledge gained from this module in their own professional decision-making scenarios. The topics include: • Satisficing and dual process theories • Heuristics and biases (availability, overconfidence, and affect) • Construal level, mental accounting, and choice bracketing • Prospect theory, loss aversion, and ambiguity aversion • Fairness, social preferences, and conditional cooperation The concepts and theories are presented in lectures. Students practice their theory application skills by presenting and discussing critical issues and applications of these theories in the seminar.
Learning outcomes
After participating in this module, students understand how individuals perceive risks and ambiguities and make decisions. They have developed a basic understanding of key psychological and behavioural-economic theories related to decision-making under risk and ambiguity. They can identify and explain critical heuristics, biases, and cognitive framing techniques that influence decision-making. Participants can apply theories to real-world situations.
Assessment
• Seminar presentations, 20 min, and discussion in seminar (25 %) • Written exam, 60 min (75 %)
Literature (1)
- Slides for the lecture and literature for self-study will be available via Moodle at the beginning and throughout the semester.
Remarks
Early registration in Moodle is required (latest in the first week of the semester).
Source: BTU's module description · retrieved 20 Oct 2026Original