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 optimise gains while minimising losses through data-informed insights.

flexible workload of 4 to 360h
valid certificate in your country
What will I learn?
Gain practical skills in decision theory by constructing payoff matrices, modelling costs, prices, capacity, and calculating expected monetary value, expected utility, plus non-probabilistic methods. 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
- Decision modelling: construct payoff matrices and evaluate strategies amid uncertainty.
- Risk assessment: calculate EMV, utility values, and sensitivity for robust choices.
- Market probability estimation: transform macro and sector data into demand forecasts.
- Profit projection: connect pricing, expenses, capacity, and demand to predict results.
- Strategic advising: formulate succinct, data-supported decisions with explicit risks.
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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