Everything You Wanted to Know About Decision-Making

“Everything You Wanted to Know About Decision-Making: The Best Parts” taught by Professor Reid Hastie (May 11-12, 2018)

Program Fee: USD 500

Location: London

This session will focus on both the individual decision-maker, as well as team decision-making. It will begin with an overview of the rational approach to individual decision processes, in turn drawing insights from behavioral science that describe how we actually make decisions, and where we often depart from rational principles. It will also examine some prescriptions and procedures that make us more rational, smarter decision-makers. It will also cover the benefits, strategies, and pitfalls of team decision-making. All sessions will use participatory exercises to make conceptual points and to provide practice in improved practices.

Hastie says, “Everyone knows that Managerial Decision Making is a long-term foundational course in the core curriculum. The original course introduces fundamental tools for managing uncertainty and making sure our actions are aligned with our ultimate goals on a project, and in our lives. Many students comment that the original course is the one that really helps them see how rational optimizing models from economics, statistics, and accounting that they learn about in many of their more technical courses, connect to their actual experiences as professional decision-makers.

This Back-To-Booth two-part presentation reviews some of the original decision tools, but then shifts to focus team decision-making and methods to leverage collective intelligence effectively. There is an emphasis on new insights from Behavioral Economics that extend the traditional messages from Psychology. The exercises and discussions of team decision-making will both reflect participants' experiences since Booth, working on and leading teams, and will help them move up to a new level of competence in their increasingly collaborative professional lives."

Details

  • When

  • Friday, May 11, 2018 - Saturday, May 12, 2018

  • Where

  • Chicago Booth London Campus
    25 Basinghall St.
    London EC2V 5HA
    United Kingdom
    +44 (0)20 7070 2200

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