
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.
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Content and learning outcomes
Course contents
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.
Intended 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 Disposition
Lectures, seminars, exercises.
Literature and preparations
Specific prerequisites
Higher education studies comprising 120 ECTS credits. Language proficiency corresponding to English B/English 6 in Swedish gymnasium.
Recommended prerequisites
No information inserted
Equipment
No information inserted
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 and completion
If the course is discontinued, students may request to be examined during the following two academic years.
Grading scale
A, B, C, D, E, FX, F
Examination
- DELA - Seminar Participation and Home Assignments, 3,0 hp, betygsskala: P, F
- EXCA - Take-home Exercises, 4,5 hp, betygsskala: P, F
- TENA - Optional Exam, - hp, betygsskala: A, B, C, D, E, FX, F
Based on recommendation from KTH’s coordinator for disabilities, the examiner will decide how to adapt an examination for students with documented disability.
The examiner may apply another examination format when re-examining individual students.
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.
Other 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
Opportunity to complete the requirements via supplementary examination
No information inserted
Opportunity to raise an approved grade via renewed examination
No information inserted
Examiner
Ethical approach
- All members of a group are responsible for the group's work.
- In any assessment, every student shall honestly disclose any help received and sources used.
- In an oral assessment, every student shall be able to present and answer questions about the entire assignment and solution.
Further information
Course web
Further information about the course can be found on the Course web at the link below. Information on the Course web will later be moved to this site.
Course web AK2014Offered by
Main field of study
Built Environment
Education cycle
Second cycle
Add-on studies
No information inserted
Contact
John Cantwell (john.cantwell@abe.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.