Bachelor
2024/2025
Choice and Decision Theory
Type:
Elective course (Economics and Data Science)
Area of studies:
Applied Mathematics and Information Science
Delivered by:
Department of Mathematics
Where:
Faculty of Economic Sciences
When:
3 year, 1, 2 module
Mode of studies:
offline
Open to:
students of one campus
Instructors:
Emre Dogan
Language:
English
ECTS credits:
6
Contact hours:
60
Course Syllabus
Abstract
The course includes main notions and stages of decision making, uni- and multicriterial models, rationality of individual and social decisions, main notions of utility theory, choice models, and their use in applied problems.
Learning Objectives
- to familiarize students with the basic concepts, models and statements of the theory of choice and decision making
Expected Learning Outcomes
- students will be able to choose rational options in practical decision-making problems
- 3 - Have skills in analysis of game-theoretic models
- Know principles of models construction in decision analysis
Course Contents
- Introduction to decision making problem. Binary relations
- Individual decision making
- Theory of expected utility
- Multi-criterial decision making
- Collective decision making
- Non-local aggregation
- Social choice (the case of two alternatives)
- Manipulation in social choice
Interim Assessment
- 2024/2025 2nd module0.1 * Attendance + 0.3 * Exam + 0.3 * Homework + 0.3 * Midterm
Bibliography
Recommended Core Bibliography
- Fuad Aleskerov, Denis Bouyssou, & Bernard Monjardet. (2007). Utility Maximization, Choice and Preference. Post-Print. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsrep&AN=edsrep.p.hal.journl.halshs.00197186
Recommended Additional Bibliography
- Fuad Aleskerov, Daniel Karabekyan, Remzi Sanver, & Vyacheslav Yakuba. (2009). Evaluating the Degree of Manipulability of Certain Aggregation Procedures under Multiple Choices. Journal of the New Economic Association, 1–2, 37.