BUSADM 743 Decision and Risk Analysis

Decision and risk analysis combine elements of probability, economics, logic, psychology and domain knowledge to characterize and analyze complex decision problems. Researchers in this scholarly discipline develop theoretical mathematical results, develop computational decision support tools grounded in formal theory, methods for populating models, as well as a large number of applied models for different real world problems or problem classes. Students will gain familiarity with the basic theory and methods from classic and recent texts, and will examine some real world applications from recent journal publications. There will be particular focus on connections between the approaches covered and developments in information systems and in analytics. The course will involve portions of problem sets, student led discussions. Students emerging from the class will be prepared to incorporate decision analysis into research involving applications or IS/Analytics, or to further investigate decision analysis in order to research in the methods of the field itself. Students will also keep a journal of ideas one of which will be the basis for a project or research paper that has the potential for expansion into publishable results.

3 Credit(s)