Decision Making by Coursera
Course Highlights
- Clarify the concept of decision-making in the context of organizations and its relevance for the managerial role.
- Understand what are rational decisions, decision processes, decisions under risk, and the limits to our rationality in decision-making
- Learn how to apply techniques to improve decision quality, such as PROACT, Decision Trees, Certainty Equivalent, Problem Solving Cycle, and MAP.
Skills you will learn!
Curriculum
25 Topics
Why making decisions?
What is a decision?
A decision process and a decision criteria
Models for decision making: humans and econs
Subjectivity and objectivity
Bounded rationality
Judgment and decision making
Limits to rationality: heuristics biases satisfice system 1 and system 2 and intuition
Common biases in decisions
Availability heuristics
Egocentric bias
Planning fallacy
Sunk cost
Affective heuristics
Debiasing and its limits
Complement: Noise
Syllabus
Personality traits and decision styles
Intertemporal choices and time preferences
Graded quiz: Decision making in organizations and limits to rationality
Practice quiz: Decision making in organizations
Practice quiz: Heuristics and Biases I
Practice quiz: Heuristics and Biases II
Practice quiz: Noise
Judgment vs Decision making
23 Topics
PrOACT I: A Decision making process
PrOACT I: Context and steps to use the PrOACT
PrOACT I: Define the problem
PrOACT I: Objectives
PrOACT II: Alternatives
PrOACT II: Consequences
PrOACT II: Examine the tradeoffs
Decision making from a problem solving approach
The scope of problem solving
Contextual facts
Define the problem
Structure the problem
Prioritize and plan
Analysis
Synthesis and solution proposition
Propose solution
Even swaps
How to master the seven steps of problem solving
Six problem solving mindsets for very uncertain times
Graded quiz: Decision making process and problem solving
Practice quiz: PrOACT - Problem Framing and Objective
Practice quiz: PrOACT - Problem Alternatives Consequences and Tradeoffs
Practice quiz: Problem solving cycle
23 Topics
What is decision analysis?
What is a good decision from a rational analytical?
Influence diagram
Probabilities and decision tree
Decision analysis application: An example of application
Decision analysis application: Solution
Decision analysis application: Solution II
Value of money over time
Sensitivity analysis
The merit of using rational techniques in decision making
The value of perfect information
Complementary reading: Decision analysis
Linked decisions
Risk profile and risk analysis
Expected value and attitudes towards risk
Maximization and utility function
Prospect theory
Case for staff graded assignments in weeks 3 to 5
Graded quiz: Decision analysis
Decision analysis (individual)
Practice quiz: Decision analysis concepts
Practice quiz: Decision analysis application
Practice quiz: Decision analysis additional concepts
22 Topics
Decision making in groups: Concepts I
Processes to help debiasing decisions in groups
Organizational decision making in groups
Sharing and aggregating information in groups I
Sharing and aggregating information in groups II
Strategies to make better decisions in groups
MAP - Mediating Assessment Protocol
Virtual teams
Decision in groups and biases
Nudge
Ethics and Decision Making
Recording of Decision Making Live Session on 22-06-02 20:14:56 [08:30]
The dynamics of decision making in groups
Typology of groups
Nudge Not Sludge
Cooperation
Fairness
Graded quiz: Decision making in groups
Decision making in groups (in teams)
Practice quiz: Decision making in groups concepts
Practice quiz: Decision making in groups practice
Practice quiz: Nudge | Ethics in decision making
14 Topics
When decisions are experiments
Type 2 Decisions
Formulating Hypothesis and Experiments
Artificial Intelligence and decision making
Decision making in complex and chaotic environments
Why the Lean Start-Up Changes Everything
Decision making and decision support system
A Leader's framework for decision making
Graded quiz: New perspectives in decision making
New perspectives in decision making (in teams)
Practice quiz: Experiments
Practice quiz: Artificial intelligence
Practice quiz: Decision making in complex and chaotic environments
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