Term and Year of offering: Spring 2015
Course Number and Title: MSCI 452 Decision Making Under Uncertainty
Instructor’s Name: Fatih Safa Erenay
Course Description: See description in the Undergraduate Calendar
This course deals with normative, descriptive, and prescriptive theories of decision making under uncertainty. It begins with analytical models such as decision trees, Bayes Theorem and Bayesian revision, value of information, basic utility theory and multi-attribute decision making. The course continues with an examination of how these theories can fail to predict actual decision making behavior.
Course Objectives:
N/A
Required Readings, Materials and Texts:
Course will be mostly based on class notes. Students are encouraged to have a decision analysis book to follow up with the class materials. Following books are suggested:
Bunn, Applied Decision Analysis;
R.T. Clemen, Making Hard Decisions: An Introduction to Decision Analysis;
This is a basic course description made available for public reference only. The Undergraduate Calendar is always the official source for all course descriptions. Course Syllabi will be distributed by the instructor in class. For additional details not found here, please contact the listed instructor.