decision theory course
This course equips managers with decision theory essentials to handle uncertainty effectively. Participants learn to create payoff matrices, evaluate risks using EMV and utility functions, integrate market data for realistic probabilities, perform sensitivity analyses, and deliver precise strategic recommendations that weigh potential gains against risks, fostering confident business choices.

from 4 to 360h 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 measures. Utilise macro and market data for probability estimation, conduct sensitivity and break-even analyses, and convert intricate risk decisions into straightforward, actionable advice 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 create demand forecasts.
- Model profits by integrating price, costs, capacity, and demand projections.
- Formulate executive summaries with data-supported decisions and explicit risk disclosures.
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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