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 clear strategic advice that weighs potential gains against risks, ensuring informed and balanced 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, capacity, and demand. Master computing expected monetary value, expected utility, and non-probabilistic methods. Utilise macro and market data for probability estimation, conduct sensitivity and break-even analyses, and formulate actionable recommendations from complex risk assessments with precise caveats.
Elevify advantages
Develop skills
- Build decision models with payoff matrices to evaluate strategies amid uncertainty.
- Conduct risk assessments using EMV, utility, and sensitivity for robust decisions.
- Derive probabilities from macro and market data to create demand forecasts.
- Model profits by integrating price, costs, capacity, and demand projections.
- Develop concise executive summaries with data support and explicit risk warnings.
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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