Judgment and Decision Making

3 credits · Law

(Same as PUBLPOL 205A, IPS 207A.) Theories and research on heuristics and biases in human inference, judgement, and decision making. Experimental and theoretical work in prospect theory emphasizing loss and risk aversion. Support theory. Challenges that psychology offers to the rationalist expected utility model; attempts to meet this challenge through integration with modern behavioral economics. Decision making biases and phenomena of special relevance to public policy such as group polarization, group think, and collective action. Prerequisites.