720330 Psychology of Decision-Making
winter semester 2016/2017 | Last update: 10.05.2016 | Place course on memo listThe participants know the basics of decision-making, understand why and how erroneous and irrational decisions are made and how they can be avoided.
The participants know the basics of decision-making, understand why and how erroneous and irrational decisions are made and how they can be avoided.Long time, human (according to the homo economicus model) was considered as a rational thinking and critical being that weighs difficult decisions, thinks long term and thus selects the best alternative for itself.
The research field of Behavioral Decision-Making challenges that assumption. Especially when considering real decisions, an entirely different picture arises: people are overwhelmed by the complexity of their environment, are overwhelmed by the selection and find it hard to take all the necessary information. Moreover while choosing an alternative, they do not know how likely an event occurs.
In such situations people choose not strictly rational. Shown are even systematically irrational patterns. For example, searching for information supporting the opinion and ignoring those that contradict it. Keeping the Status Quo due to anxiety, ignoring uncertainties due to overconfidence. The orientation of short-term benefits with simultaneous neglect of negative long-term effects.
Against this background, the course deals with the following issues:
• What do people sometimes decide irrational and contrary to their actual preferences?
• What makes problems while deciding?
• What characterizes complex decision situations?
• How is a (ir-) rational decision characterized?
• What are the partly unconscious processes that can lead to wrong decisions again and again?
• How can we prevent this in order to enable better decisions?
Lecture, case studies, discussion
Participation, Reflection, Discussion, Presentation
Ariely, D. (2009). Predictably irrational, revised and expanded edition: The hidden forces that shape our decisions. New York: HarperCollins.
Schwartz, B. (2004). The paradox of choice: Why less is more. New York: Ecco.
Dörner, D. (2011). Die Logik des Misslingens: strategisches Denken in komplexen Situationen. Rowohlt Verlag GmbH.
Weitere Ergänzungen werden im Kurs bekannt gegeben.
Group 0
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Date | Time | Location | ||
Tue 2016-10-18
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08.30 - 11.45 | 60408 SR 60408 SR | Barrier-free | |
Tue 2016-11-15
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08.30 - 11.45 | 60408 SR 60408 SR | Barrier-free | |
Tue 2016-11-29
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08.30 - 11.45 | 60408 SR 60408 SR | Barrier-free | |
Tue 2016-12-13
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08.30 - 11.45 | 60408 SR 60408 SR | Barrier-free | |
Tue 2017-01-10
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08.30 - 11.45 | 60408 SR 60408 SR | Barrier-free | |
Tue 2017-01-24
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08.30 - 11.45 | 60408 SR 60408 SR | Barrier-free |