Decision theory course
This course equips managers with decision theory tools to handle uncertainty effectively. Build payoff matrices, evaluate risks using EMV and utility functions, derive probabilities from market data, model profits from price, cost, and demand variables, and deliver sharp, evidence-based recommendations that weigh opportunities against risks for smarter business choices.
from 4 to 360h flexible workload
valid certificate in your country
What will I learn?
Gain practical skills in decision theory by creating payoff matrices, modelling costs, prices, capacity, and calculating EMV, expected utility, plus non-probabilistic methods. Utilise macro and market data for probabilities, conduct sensitivity and break-even analyses, and convert complex risks into clear, actionable advice with caveats and data-guided steps.
Elevify advantages
Develop skills
- Build decision models with payoff matrices to evaluate strategies amid uncertainty.
- Perform risk assessments via EMV, utility calculations, and sensitivity analysis for better choices.
- Convert macro and market data into realistic probabilities and demand forecasts.
- Model profits by integrating price, costs, capacity, and demand to predict results.
- Develop clear, data-supported recommendations with explicit risks and next actions.
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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Giulio CarloDigital Marketing Student
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