decision theory course
This course equips managers with decision theory expertise to handle uncertainty effectively. Participants learn to create payoff matrices, evaluate risks using EMV and utility functions, integrate market data for realistic probabilities, model profits from pricing and capacity variables, and deliver precise, data-supported recommendations that safeguard against downsides while capturing upsides.

4 to 360 hours flexible workload
valid certificate in your country
What will I learn?
Gain practical skills in decision theory by constructing payoff matrices, modelling costs, prices, and capacity, and calculating expected monetary value, utility, and non-probabilistic metrics. Utilise macro and market data for probability estimation, conduct sensitivity and break-even analyses, and convert intricate risk assessments into succinct, actionable strategies featuring clear warnings and evidence-based actions.
Elevify advantages
Develop skills
- Build decision models with payoff matrices to evaluate strategies amid uncertainty.
- Perform risk assessments via EMV, utility calculations, and sensitivity testing for robust choices.
- Derive probabilities from macro and market data to simulate demand scenarios accurately.
- Model profits by integrating price, cost, capacity, and demand forecasts.
- Formulate executive summaries with data-driven options, explicit risks, and next steps.
Suggested summary
Before starting, you can change the chapters and the workload. Choose which chapter to start with. Add or remove chapters. Increase or decrease the course workload.What our students say
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