Description: This module introduces students to the theoretical foundations of decision-making, combining perspectives from philosophy
and economics. It provides students with tools to understand, analyse, and critically assess human decision-making in ecological, economic, and political contexts. Core topics include probabilistic beliefs and uncertainty, (axiomatic) rationality, and utility theory. Important choice anomalies and alternative models from behavioural economics are introduced. Finally, decision-making in the political context is discussed.
Learning outcomes:
Understand and be able to explain the principles of rational decision-making, especially as reflected in axiomatic approaches to utility theory.
Identify and analyse common deviations from rationality as described by behavioural economics.
Critically evaluate the assumptions and limitations of different decision-making models.
Apply decision-making concepts to ecological and environmental case studies, including political and policy contexts.
Integrate philosophical and economic perspectives to support adaptive management and forecasting-informed decision
making.
Module group: Foundations of Ecological Forecasting
Credits: 5 ECTS
Lecturers: Prof. Dr. Patricia Rich, Dr. Sena Bozdag