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Behavioral Economics & Decision Making

Fall 2013 MBA Course

B8619-001: Behavioral Economics & Decision Making

W - Full Term, 09:00AM to 12:15PM
Location: WJW 416

Instructor: Eric Johnson

The purpose of this course is to inform future managers, consultants, and advisors of the psychological processes and biases underlying the decisions made by customers, competitors, colleagues, and themselves, with emphasis on how to incorporate such insights into business, marketing, and investing strategies. The seminar has two facets. First, it gives students a broad overview of important results from various behavioral sciences (e.g., behavioral decision research, social and cognitive psychology, consumer research) that clarify how people really make decisions (in contrast to the rational expectations model underlying classical economic theories). Second, it provides students with practical advice about applying these findings to topics in marketing, management, and finance (each the focus of approximately 1/3 of the class material).

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