Netherlands, Nijmegen

Decision Analysis: Theory & Practice

when 1 August 2016 - 12 August 2016
language English
duration 2 weeks
credits 4 ECTS
fee EUR 990

We make decisions every second of every day. Many decisions are made quickly and more or less intuitively without much thought. Others take more time and are made more rationally with reflection and deliberation upon the potential courses of action. Some decisions have an almost unnoticeable impact upon our daily life, others may have important long-term consequences for our life in the future or for the survival of organisations.

What kind of decisions are there? Can we make a classification of decision making problems? How do we make personal decisions? How are managerial decisions made? How do groups in society, or committees like an executive board of a company, or a management team of a division, or department within a private or public organization make decisions? Can we evaluate and qualify decision making? Are we good at making decisions? Can we improve our decision making capabilities? Which methods and techniques are there to support our decisions?

It is this kind of questions we want to address in this course. The aim is to offer a workable insight into modern theories and methods of contemporary decision sciences. More specifically, after this course, you will have an applicable insight into hot spot topics in the decision sciences such as framing and prospect theory, expected utility, the use of heuristics and related biases in intuitive decision making, multi-criteria decision making, decision making under risk or uncertainty, decision making under incomplete information and decision making in groups and committees (in the broad sense of the word such as executive boards, management teams etc.). Moreover, you will learn how to apply this to concrete decision making cases.

The focus in this course is on applicable knowledge and skills in order to improve your decision making capabilities (personal or managerial). It teaches you how you to structure concrete decision making problems by means of structuring techniques like value trees, decision trees, influence diagrams and decision matrices. Finally and most importantly, it teaches you how to model and analyse decision problems by means of decision-analytic methods and techniques. The emphasis hereby is on multi-criteria decision methods and on risk- and uncertainty assessment methods.

Course leader

Prof. dr. A. Van Deemen
Professor Decision Theory
Department of Methods
Nijmegen School of Management
Radboud University

Target group

Scholars/students in business administration, economics, political science, planning sciences, public administration. Scholars/ students in engineering sciences, mathematics, and computer sciences. Anyone with the required background who is interested in improving her or his decision making capabilities. Managers and professionals in private/public organisations with social science / economics/engineering background.

Course aim

After this course you are able to:
- To apply decision theories to concrete decision making situations.
- To build models of tactical and strategic decision making problems
- To analyse decision making problems by means of multi criteria decision making methods and software
- To assess uncertainty and risk in tactical and strategic decision making situation

Fee info

EUR 990: The course fee includes the registration fee, course materials, access to library and IT facilities, coffee/tea, lunch, and a number of social activities.

10% discount for early bird applicants. The early bird deadline is 1 April 2016.
15% discount for students and PhD candidates from Radboud University and partner universities.
EUR 295: Housing (optional)