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Content and learning outcomes
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 conceptual basis of decision theory,
- formalization of decision problems.
Literature and preparations
Entry requirements for PhD studies
- Peterson, M. ”An Introduction to Decision Theory”, Cambridge University Press.
- Other literature posted on the course website at the latest four weeks before the course starts
Examination and completion
If the course is discontinued, students may request to be examined during the following two academic years.
- TEN1 - Exam, 4.5 credits, grading scale: P, F
- UPP1 - Essay, 3.0 credits, grading scale: P, 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.
Other requirements for final grade
- DEL1 Seminar participation and home exercises 3.0 credits
- EXC1 Home assigments 4.5 credits
Opportunity to complete the requirements via supplementary examination
Opportunity to raise an approved grade via renewed examination
- 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 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 FAK3140
Main field of study
This course id offered in conjunction with the second cycle course AK2014. See that course for information about course offerings.
To apply for the course, please fill in the form available on this link: https://www.kth.se/form/fak3140-decision-theory
Please note! This course replaces F1N5117 Decision Theory 7.5 credits