decision theory course
This course equips managers with decision theory tools to handle uncertainty effectively. Build payoff matrices, assess risks using EMV and utility functions, derive probabilities from market data, model profits from price, cost, and capacity variables, and create actionable strategic recommendations that weigh potential gains against risks, ensuring balanced and informed 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, modeling costs, prices, capacity, and demand. Master computing expected monetary value (EMV), expected utility, and non-probabilistic methods. Use market and macro data for probabilities, conduct sensitivity and break-even analyses, and deliver clear recommendations with caveats and data-driven actions.
Elevify advantages
Develop skills
- Decision modeling: construct payoff matrices to evaluate strategies amid uncertainty.
- Risk analysis: calculate EMV, utility values, and sensitivity for robust decision-making.
- Market probabilities: convert macro and industry data into realistic demand forecasts.
- Profit modeling: integrate price, costs, capacity, and demand to predict financial results.
- Executive recommendations: produce succinct, evidence-based options with explicit risks.
Suggested summary
Before starting, you can change the chapters and 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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