- Department: The York Management School
- Module co-ordinator: Prof. Jacco Thijssen
- Credit value: 10 credits
- Credit level: H
- Academic year of delivery: 2022-23
- See module specification for other years: 2021-22
The aim is to introduce students to decision theory and its applications in economics, OR, finance and actuarial science.
Occurrence | Teaching period |
---|---|
A | Autumn Term 2022-23 |
The aim is to introduce students to decision theory and its applications in economics, OR, finance and actuarial science. Students are introduced to axiomatic approaches to utility, expected utility, and subjective expected utility. The module also introduces behavioural critiques to expected utility theory and modern developments, such as prospect theory and multiple-prior maxmin utility.
After successful completion the student is able to:
Subject content
Academic and graduate skills
Task | Length | % of module mark |
---|---|---|
Closed/in-person Exam (Centrally scheduled) Closed examination |
1.5 hours | 80 |
Essay/coursework Presentation |
N/A | 20 |
None
Task | Length | % of module mark |
---|---|---|
Closed/in-person Exam (Centrally scheduled) Closed examination |
2 hours | 100 |
Students will receive feedback within three weeks of the hand-in problem sets. The feedback will be handed to students personally and takes the form of comments and suggestions for improvement written on the handed in work.
Gilboa, I. (2009), “Theory of Decision under Uncertainty”, Cambridge University Press.
Berger, J.O. (1985), “Statistical Decision Theory and Bayesian Analysis” (2nd ed), Springer Verlag