Module 1: Introduction to Decision Making

Our introductory presentation provides an overview of decision making, during which we look at both the psychological and numerical aspects of making decisions. We discuss the concept of decision making, the virtues of formal decision-making methods, and the role of intuition. We consider techniques for when consequences are certain (such as the even-swaps method) and when consequences are uncertain (such as decision trees). Throughout the presentation, we highlight the psychological traps that the unwary tend to fall into when making decisions.