Description: Lecture, three hours. Introduction to principles of rational judgment and choice, common behavioral biases of managers and consumers, and corrective tools and procedures, drawing heavily on disciplines of psychology and behavioral economics. Topics include decision structuring, chance processes, forecasting, confidence, likelihood judgment, risk perception and risk-taking, decision under uncertainty, multiattribute choice, framing and mental accounting, intertemporal choice, allocation decisions, organizational decision making, choice architecture, happiness, and well-being. S/U or letter grading.

Units: 4.0