AK2014 Decision Theory 7.5 credits

Beslutsteori

Introductory course in decision theory.

In many situations we are forced to make decisions without having complete knowledge of the outcomes of our choices. The aim of this course is to provide a foundation for reflection on how rational choices can be made in such situations. We will discuss concepts such as rationality, preferences, goals, uncertainty, and utility. What does it mean to say that a preference, a goal, or a choice is rational? How should decisions be made under uncertainty and risk? What importance does the expected utility of different options have in a decision situation? This course will also serve as an introduction to game theory and social decision theory.

  • Educational level

    Second cycle
  • Academic level (A-D)

    C
  • Subject area

  • Grade scale

    A, B, C, D, E, FX, F

Course offerings

Spring 16 for single courses students

  • Periods

    Spring 16 P3 (7.5 credits)

  • Application code

    20024

  • Start date

    19/01/2016

  • End date

    2016 week: 12

  • Language of instruction

    English

  • Campus

    KTH Campus

  • Number of lectures

  • Number of exercises

  • Tutoring time

    Daytime

  • Form of study

    Normal

  • Number of places *

    2 - 10

    *) The Course date may be cancelled if number of admitted are less than minimum of places. If there are more applicants than number of places selection will be made.

  • Course responsible

    Till Grüne-Yanoff <gryne@kth.se>

  • Target group

    Eligible for students that are allowed to take advanced level (second cycle) courses. For non-KTH students, university studies in philosophy are recommended.

Spring 16 for programme students

Spring 17 for programme students

  • Periods

    Spring 17 P3 (7.5 credits)

  • Application code

    60233

  • Start date

    2017 week: 3

  • End date

    2017 week: 11

  • Language of instruction

    Swedish

  • Campus

    KTH Campus

  • Number of lectures

    10 (preliminary)

  • Number of exercises

    3 (preliminary)

  • Tutoring time

    Daytime

  • Form of study

    Normal

  • Number of places *

    5 - 30

    *) The Course date may be cancelled if number of admitted are less than minimum of places. If there are more applicants than number of places selection will be made.

  • Part of programme

Learning outcomes

After completed course, the student should be able to outline and analyse arguments and basic issues in

  • decision under risk and ignorance,
  • collective decision theory,
  • the history of decision theory,
  • formalization of decision problems.

The course will enable the student to approach decisions in academic and professional context in a systematic fashion, with the help of powerful tools. Applications of the theories to various contexts are discussed and trained. However, the course does not aim to train decision making for specific domains, but rather offers a general perspective.   

Course main content

In many situations we are forced to make decisions without having complete knowledge of the outcomes of our choices. The aim of this course is to provide a foundation for reflection on how rational choices can be made in such situations. We will discuss concepts such as rationality, preferences, goals, uncertainty, and utility. What does it mean to say that a preference, a goal, or a choice is rational? How should decisions be made under uncertainty and risk? What importance does the expected utility of different options have in a decision situation? This course will also serve as an introduction to game theory and social decision theory.

Disposition

Lectures, seminars, exercises.

Eligibility

Higher education studies comprising 120 ECTS credits. Language proficiency corresponding to English B/English 6 in Swedish gymnasium.

Literature

  • Peterson, M. ”An Introduction to Decision Theory”, Cambridge University Press.
  • Other course literature will be provided online no later than four weeks before the start of the course.

Examination

  • DELA - Seminar Participation and Home Assignments, 3.0, grade scale: P, F
  • EXCA - Take-home Exercises, 4.5, grade scale: P, F
  • TENA - Optional Exam, , grade scale: A, B, C, D, E, FX, F

Students who choose not to take TEN1 but who passed both DEL1 and EXC1 receive an overall grade E.

Students who pass TEN1 and who passed both DEL1 and EXC1 receive the grade on TEN1 as their overall grade.

Requirements for final grade

  • Seminar participation and home assignments (DEL1; 3.0 cr), P/F
  • Home exercises (EXC1; 4.5 cr), P/F
  • Optional exam (TEN1; 0.0 cr), A-F

Offered by

ABE/Philosophy

Contact

Till Grüne-Yanoff, gryne@kth.se

Examiner

Till Grüne-Yanoff <gryne@kth.se>

Supplementary information

Number of places: 5-50. The course offering may be cancelled if number of admitted are less than minimum of places. If there are more applicants than number of places selection will be made.

Version

Course syllabus valid from: Spring 16.
Examination information valid from: Spring 16.