Judgment and Decision-Making

Why do people often make decisions that seem irrational? Which cognitive biases influence our judgment - even when all relevant information is available?
This course, Judgment and Decision-Making, provides actionable insights into the psychological mechanisms and pitfalls of human decision-making - grounded in the latest findings from behavioral economics.

Judgment and Decision-Making – How We Make Decisions in Our Daily Lives

At the core are key models from Behavioral Economics. Participants explore essential theories such as the Prospect Theory by Daniel Kahneman and Amos Tversky, explaining why individuals systematically misjudge risks and weigh losses more heavily than gains. Additional topics include heuristics and biases like confirmation bias and status quo bias, which shape decision-making in business, society, and organizations.

The goal of the course is to better understand these cognitive patterns - and provide strategies for making better decisions. This is particularly relevant for companies aiming to make informed decisions in areas like management, marketing, leadership, or product development. The course is also ideal for universities, equipping students in business, psychology, or social sciences with forward-looking skills in judgment and decision-making.

The methodology combines theoretical knowledge with interactive elements: Case studies, decision simulations, and transfer exercises help participants apply psychological models to real-world challenges from their professional or academic contexts.