decision theory course
This course equips managers with decision theory essentials to handle uncertainty effectively. Build payoff matrices, evaluate risks using EMV and utility functions, integrate market data for realistic probabilities, model profits from pricing and capacity, and deliver precise strategic recommendations that safeguard against downsides while capturing upsides, fostering confident leadership in complex scenarios.

flexible workload from 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, and capacity, and calculating expected monetary value, utility, and non-probabilistic methods. Utilise macro and market data for probability estimates, conduct sensitivity and break-even analyses, and convert intricate risk decisions into straightforward, actionable advice complete with caveats and evidence-based actions.
Elevify advantages
Develop skills
- Decision modelling: construct payoff matrices to evaluate strategies amid uncertainty.
- Risk assessment: calculate EMV, utility functions, and sensitivity for prudent choices.
- Market probability estimation: transform macro and sector data into demand forecasts.
- Profit forecasting: integrate price, costs, capacity, and demand to predict results.
- Strategic advising: develop succinct, data-supported recommendations 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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