Decision theory course
This course equips managers with decision theory essentials to handle uncertainty effectively. Participants learn to create payoff matrices, evaluate risks via EMV and utility functions, leverage market data for probabilities, perform sensitivity analyses, and deliver precise strategic recommendations that optimise upside gains while mitigating downside risks, fostering confident business choices.

4 to 360 hours of flexible workload
certificate valid in your country
What Will I Learn?
Gain practical skills in decision theory by constructing payoff matrices, modelling costs, prices, and capacity, and calculating EMV, expected utility, and non-probabilistic metrics. Utilise macro and market data for probability estimation, conduct sensitivity and break-even analyses, and convert intricate risk trade-offs into succinct, actionable strategies with defined caveats and evidence-based actions.
Elevify Advantages
Develop Skills
- Build decision models using payoff matrices to evaluate strategies amid uncertainty.
- Perform risk assessments with EMV, utility calculations, and sensitivity analysis for robust decisions.
- Derive probabilities from macro and market data to create realistic demand forecasts.
- Model profits by integrating price, costs, capacity, and demand to predict financial results.
- Develop executive summaries with data-supported recommendations and explicit risk qualifiers.
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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