27 July 2022
Behavioral Decision Making
This course provides insight into scientific research on judgment and decision making, where psychology and economics collide and collaborate to understand human behavior. It provides basic knowledge of theories, concepts and methods that is necessary to understand how decisions are made. The course is inspired by the groundbreaking, Nobel-prize winning work of Tversky and Kahneman (Nobel prize 2002), Thaler (Nobel prize 2017) as well as seminal work and research programmes of other leading thinkers in the field. The course is largely centered around the question of how and when humans deviate from rational thinking. This is captured by a well-documented array of heuristics and biases that help to make reasonable and accurate decisions in some areas, but may crucially misguide in others. We will discuss eye-opening research that documents several well-known biases as well as focus on mental accounting, loss/gain framing, (intertemporal) choices, visceral influences, self-control and well-being, nudging, forecasting, motivated reasoning and (dis)honesty.
Kobe Millet is Associate Professor at the Marketing Department of Vrije Universiteit Amsterdam and Michail Kokkoris is Associate Professor at the Marketing Department of Vrije Universiteit Amsterdam.
The target audience of this course is research-oriented students (PhD or Research Master students) or highly qualified professionals (MSc or PhD degree). The summer school can be of interest to professionals of various fields (e.g., law, management, health and medicine, engineering, programming, big data analytics, communication, advertising) interested in understanding the behavioral aspects of decision making and the psychological mechanisms underpinning it. Participants should be ready to actively participate and contribute to thoughtful and in-depth discussions during the course.
During the lectures, basic concepts and theories will be discussed, specific issues related to the literature will be further explained, and certain topics will be zoomed in on. The lectures are not merely repetition of the course literature, but they provide additional perspectives and in-depth information. You will work in small teams on group assignments.
Participants who joined at least 80% of all sessions, hand in the team assignment and deliver a quality presentation at the end of the week receive a certificate of participation stating that the summer school is equivalent to a workload of 3 ECTS. Note that it is the student’s own responsibility to get these credits registered at their own university.
EUR 1000: The course fee covers tuition, course materials, daily lunches and coffee/tea during short breaks, social event including a dinner and farewell drinks. The course fee does not include accommodation. Please ask us about discount options for a student hotel.
EUR 2000: Professionals € 2.000
The course fee covers tuition, course materials, daily lunches and coffee/tea during short breaks, social event including a dinner and farewell drinks. The course fee does not include accommodation. Please ask us about discount options for a student hotel.