Short Course Description
The course deals with the basics of statistical decision theory, models for evaluating information, analyzing preferences, the theory of utility and attitude to risks, uncertainty and subjective probability.
The course aims to formulate and analyze decision problems under risk and uncertainty. The course presents methodologies and tools based on behavior norms in order to assist in decision-making.
During the course, we focus on decision rules, setting preferences, and their description, data collection and risk taking. Paradigm based on the norms of "rationality" will be examined compared to alternative patterns of human behavior.
Full Syllabus
