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Behavioral Economics & Decision Making

Summer 2010 EMBA Course

B7619-001: Behavioral Economics & Decision Making

Block Week 1, May 3-7 at Columbia

Instructor: Eric Johnson

The purpose of this course is to inform future managers and consultants of customers’ decision rules and their associated biases and to enable these future managers and consultants to incorporate such insights in their business and marketing strategies. The seminar has two facets. First, it gives students a broad overview of important results from various behavioral sciences (e.g., behavioral economics, behavioral decision research, social and cognitive psychology, consumer research) that clarify how managers and customers make choices. Second, it investigates how these results can be leveraged to design original and more effective marketing and business strategies, and how to design organizations that are more effective. This can be a significant source of competitive advantage, because they are unknown to most managers and are not taught in most MBA programs.