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Decision theory is concerned with three domains of problems: how a decision-making agent should make the best possible decisions given uncertain and risky circumstances in the environment; how a decision-making agent should make the best possible decision when faced by other decision-making agents who may have contrary interests; and how a group of agents acting together in a committee should make the best possible decisions. During this course students will be introduced to the fundamental concepts and principles of decision theory, such as normal and extensive form games, solution concepts, and aggregation procedures. This is an innovative and interactive seminar course. The goal is to create a structured problem-solving ‘learning laboratory’ in which students develop their abilities to think in decision-theoretic terms when presented with practical real-world decision-making problems taken from professional and business experience. All theory will be embedded in case studies which will be used to contrast ‘intuitive’ approaches to decision-making problems with structured and systematic approaches.

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