behavioral decision making: biases, heuristics and errors.

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EVALUATION CRITERIA Final evaluation will be based on (1) class participation (presence, level of preparation and contribution to the discussion of simulations, experiments, and readings), (2) an Application Report that applies one or more ideas from behavioral decision making/behavioral economics to a real-world business context of your choosing, and (3) performance on a final exam. • Class participation 10% • Application Report 40% • Exam 50% BIBLIOGRAPHY The following are the books from which chapters in the course readings are drawn. Baron, J. (2008). Thinking and deciding (4th ed.). New York: Cambridge University Press. Bazerman, M. H., & Moore, D. (2009). Judgment in managerial decision making (7th ed.). Hoboken, NJ: J. Wiley & Sons. Belsky, G., & Gilovich, T. (2010). Why smart people make big money mistakes...and how to correct them: Lessons from the life-changing science of behavioral economics (Simon & Schuster ed.). New York: Simon & Schuster Paperbacks. Davidson, R., Goldsmith H. & Scherer K. (Eds.), Handbook of Affective Science. New York: Oxford University Press. Fung, K. (2010). Numbers rule your world: The hidden influence of probability and statistics on everything you do. New York: McGraw-Hill. Gilovich, T., Griffin, D. W., & Kahneman, D. (2002). Heuristics and biases: The psychology of intuitive judgment. Cambridge: Cambridge University Press. Glimcher, P. W. (2008). Neuroeconomics: Decision making and the brain. London: Academic Press. Hardman, D. (2009). Judgment and decision making. Malden, MA: Wiley-Blackwell. Hastie, R., & Dawes, R. M. (2009). Rational choice in an uncertain world: The psychology of judgment and decision making (2 nd ). Thousand Oask: Sage Publications. Kahneman, D., Slovic, P., & Tversky, A. (1982). Judgment under uncertainty: heuristics and biases. Cambridge ; New York: Cambridge University Press. Kahneman, D., & Tversky, A. (2000). Choices, values, and frames. Cambridge: Cambridge University Press. Plous, S. (1993). The psychology of judgment and decision making. Philadelphia: Temple University Press. BOOKS OF INTEREST Comprehensive, More Academic and Behavioral Economics Baron, J. (2008). Thinking and deciding (4th ed.). New York: Cambridge University Press. Beach, L. R., & Connolly, T. (2005). The Psychology of Decision Making: People in Organizations (2 nd ). Thousand Oaks: Sage Publications. Gilovich, T., Griffin, D. W., & Kahneman, D. (2002). Heuristics and biases: The psychology of intuitive judgment. Cambridge: Cambridge University Press. Glimcher, P. W. (2008). Neuroeconomics: Decision Making and the Brain. London: Academic. Hastie, R., & Dawes, R. M. (2009). Rational choice in an uncertain world: The psychology of judgment and decision making (2 nd ). Thousand Oask: Sage Publications. Hogarth, R. (1987). Judgment and Choice (2 nd ). New York: J. Wiley. Kahneman, D., Slovic, P., & Tversky, A. (1982). Judgment under uncertainty: heuristics and biases. Cambridge ; New York: Cambridge University Press. Kahneman, D., & Tversky, A. (2000). Choices, values, and frames. Cambridge: Cambridge University Press. March, J. G., & Heath, C. (2009). A Primer on Decision Making: How Decisions Happen. New York: Free Press. Newell, B. R., Lagnado, D. A., & Shanks, D. R. (2007). Straight Choices: The Psychology of Decision Making. New York: Psychology Press. 10 |
Plous, S. (1993). The psychology of judgment and decision making. Philadelphia: Temple University Press. Thaler, R. H. (1992). The Winner's Curse: Paradoxes and Anomalies of Economic Life. New York: Free Press. Managerial & More Practice-Oriented Bazerman, M. H., & Moore, D. (2009). Judgment in managerial decision making (7th ed.). Hoboken, NJ: J. Wiley & Sons. Hammond, J. S., Keeney, R. L., & Raiffa, H. (1999). Smart choices: A Practical Guide to Making Better Decisions. Boston: Harvard Business School Press. Russo, J. E., & Schoemaker, P. J. H. (2002). Winning Decisions: Getting It Right the First Time. New York: Currency. Hoch, S. J., Kunreuther, H., & Gunther, R. E. (2001). Wharton on making decisions. New York: Wiley. JDM in the Context of Consumer Psychology & Behavior Blackwell, R. D., Miniard P. W., et al. (2006). Consumer behavior (10th ed.). Mason, Ohio: Thomson Business and Economics. Peter, J. P. and Olson J. C. (2010). Consumer behavior & marketing strategy (9th ed.). New York: McGraw-Hill Irwin. Underhill, P. (2009). Why we buy: the science of shopping (Updated and rev. ed.). New York: Simon & Schuster Pbks. Zaltman, G. (2003). How customers think: essential insights into the mind of the market. Boston, Mass.: Harvard Business School Press. JDM For Fun Ariely, D. (2008). Predictably irrational: The hidden forces that shape our decisions (1st). New York: Harper. Ariely, D. (2010). Perfectly irrational: The unexpected ways we defy logic at work and at home. New York: Harper. Belsky, G., & Gilovich, T. (2010). Why smart people make big money mistakes...and how to correct them: Lessons from the life-changing science of behavioral economics (Simon & Schuster ed.). New York: Simon & Schuster Paperbacks. Cialdini, R. B. (2009). Influence : science and practice (5th ed.). Boston: Pearson Education. Fung, K. (2010). Numbers rule your world: The hidden influence of probability and statistics on everything you do. New York: McGraw-Hill. 11 |
Page 1 and 2: BEHAVIORAL DECISION MAKING: BIASES,
Page 3 and 4: MATERIALS The readings will be prov
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Page 7 and 8: SESSION 6 Readings [Q, 1] Finance
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