Semester:WS 24/25
Type:Exercise
Language:English
Scheduled in semester:5
Semester Hours per Week / Contact Hours:28.0 L / 21.0 h
Self-directed study time:69.0 h
Type:Exercise
Language:English
Scheduled in semester:5
Semester Hours per Week / Contact Hours:28.0 L / 21.0 h
Self-directed study time:69.0 h
Module coordination/Lecturers
- Prof. Dr. Michael Hanke
(Modulleitung)
- Assoz. Prof. Dr. Martin Angerer
(Co-Modulleitung)
- Dr. Tomasz Dubiel-Teleszynski
(Interner Dozent)
Curricula
Bachelor's degree programme in Business Administration (01.09.2021)Description
Decision Theory:
- Expected utility theory
- Mean-variance theory
- Prospect theory
- Non-cooperative game theory
- Asymmetric information
- Market efficiency
- Behavioral biases
Qualifications
- know the most prominent decision theories
- understand how rational solutions may be achieved by using classical decision models
- understand the differences between decision under certainty, risk and ignorance
- know different levels of market efficiency and their implications
- understand how information is processed on financial markets
- solve decision problems by using DT models and methods.
- find the strategic aspect of a problem and transform it into a simplified problem.
- can explain non-cooperative game theory
- analyze decision situations.
- evaluate Investments with EUT, MV and PT, explain and interpret the assumptions of these
- know methods in decision theory
- know key concepts of experimental research approaches to test market and trader behavior
- use methods and models on unknown decision situations.
- calculate optimal solutions and equilibria
- compare different methods for measuring and controlling risk and uncertainty in decision processes
- evaluate decision methods in mini cases and find appropriate models for solving typical problems
- are able to identify Nash Equilibria in simple Prisoner's Dilemma settings
- pitch solutions to fellow students
- argue in favor of and against candidate solutions
- defend their stance in discussions
- understand and critically discuss the arguments of fellow students.
- repeat the contents of lectures and exercises in a self-organized way
- assess their own learning progress during lectures
- identify their own strengths and weaknesses
- tolerate different opinions and working styles
- listen carefully, read and repeat, practice until they understand the logic and mathematics behind models
- work together and motivate other students who tend to give up as a reaction to the difficulty
Lectures Method
Lecture with interactive elements, group work, presentation
Literature
- Peterson, M.: An Introduction to Decision Theory (most recent edition). Cambridge University Press.
- Allingham, M.: Choice theory: A very short introduction (most recent edition). Oxford University Press.
- Hens, T. & Rieger M. O.: Financial Economics: A Concise Introduction to Classical and Behavioral Finance (most recent edition). Springer.
Exam Modalities
- written exam 70%
- presentation 30%
Dates
Datum | Zeit | Raum |
11.09.2024 | 11:45 - 13:15 | H5 (Fabrikweg) |
18.09.2024 | 11:45 - 13:15 | H5 (Fabrikweg) |
25.09.2024 | 11:45 - 13:15 | H5 (Fabrikweg) |
02.10.2024 | 11:45 - 13:15 | H5 (Fabrikweg) |
09.10.2024 | 11:45 - 13:15 | H5 (Fabrikweg) |
16.10.2024 | 11:45 - 13:15 | H5 (Fabrikweg) |
23.10.2024 | 11:45 - 13:15 | H5 (Fabrikweg) |
30.10.2024 | 11:45 - 13:15 | H5 (Fabrikweg) |
06.11.2024 | 11:45 - 13:15 | H5 (Fabrikweg) |
13.11.2024 | 11:45 - 13:15 | H5 (Fabrikweg) |
20.11.2024 | 11:45 - 13:15 | H5 (Fabrikweg) |
27.11.2024 | 11:45 - 13:15 | H5 (Fabrikweg) |
04.12.2024 | 11:45 - 13:15 | H5 (Fabrikweg) |
11.12.2024 | 11:45 - 13:15 | H5 (Fabrikweg) |
18.12.2024 | 11:45 - 13:15 | H5 (Fabrikweg) |
Exams
- PWW-BA-21_Decision Theory (VT IFS) (WS 24/25, bestätigt)