MIS41140 Decision&BehaviouralAnalytics

Academic Year 2023/2024

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

Show/hide contentOpenClose All

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 Hours: 
Student Effort Type Hours
Lectures

30
Specified Learning Activities

40
Autonomous Student Learning

40
Total

110
Approaches to Teaching and Learning:
Research-led. Curriculum is structured around teaching subject content.

Students are expected to engage in Group Presentations using Role Play. Students are also expected to provide fellow students with feedback on their Presentations.
 
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

15
Class Test: Based on Class Material Week 7 n/a Graded No

45
Journal: Learning Journal Week 12 n/a Graded No

40

Carry forward of passed components
Yes
 
Remediation Type Remediation Timing
In-Module Resit Prior to relevant Programme Exam Board
Please see Student Jargon Buster for more information about remediation types and timing. 
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

"Noise," Daniel Kahneman, Olivier Sibony, Cass R. Sunstein, 2021
Timetabling information is displayed only for guidance purposes, relates to the current Academic Year only and is subject to change.
 
Spring
      
Lecture Offering 1 Week(s) - 20, 21, 22, 23, 24, 25, 26, 29, 30, 31, 32, 33 Tues 09:30 - 11:50
Lecture Offering 2 Week(s) - 20, 21, 22, 23, 24, 25, 26, 29, 30, 31, 32, 33 Tues 14:00 - 16:20
Spring