Foundations of Decision Theory and Strategic Choice

Making sound choices in business and management requires more than relying on intuition alone. This course introduces you to the core principles of decision theory, providing systematic methods to evaluate options when outcomes are uncertain or risky. You will learn how to structure complex problems, weigh competing alternatives, and make rationally justified decisions. What you'll learn: Understand core terminology and foundational models of decision theory; Apply decision trees and payoff matrices to evaluate risk and uncertainty; Calculate expected monetary value and analyze probability functions; Identify cognitive biases that impact rational decision-making; Incorporate modern data-driven metrics into strategic decision frameworks. The course begins with essential concepts, criteria, and vocabulary before progressing through practical analytical models and structured written exercises. Designed for beginners, managers, analysts, and anyone looking to improve their problem-solving skills, this program requires no advanced background in mathematics. Start reading today to enhance your analytical decision-making capabilities.