13811 - Behavioural Resource Management: Thinking and Decision-Making under Risk and Ambiguity Modulübersicht

Module Number: 13811
Module Title:Behavioural Resource Management: Thinking and Decision-Making under Risk and Ambiguity
  Verhaltensbasiertes Ressourcenmanagement: Denken und Entscheiden unter Risiko und Ambiguität
Department: Faculty 5 - Business, Law and Social Sciences
Responsible Staff Member:
  • Prof. Dr. Urbig, Diemo
Language of Teaching / Examination:English
Duration:1 semester
Frequency of Offer: Every winter semester
Credits: 6
Learning Outcome:After participating in this module, students understand how individuals perceive risks and ambiguities and make decisions. They have developed a basic understanding of key psychological and behavioural-economic theories related to decision-making under risk and ambiguity. They can identify and explain critical heuristics, biases, and cognitive framing techniques that influence decision-making. Participants can apply theories to real-world situations.
Contents:In this module, we venture into the specificities of decision-making under risk and ambiguity. We journey through a diverse collection of groundbreaking theories, including many that have laid the basis for Nobel-prize-winning research. We emphasize the interdisciplinary application of the insights, ensuring students from diverse fields can assimilate and apply the knowledge gained from this module in their own professional decision-making scenarios. The topics include:
  • Satisficing and dual process theories
  • Heuristics and biases (availability, overconfidence, and affect)
  • Construal level, mental accounting, and choice bracketing
  • Prospect theory, loss aversion, and ambiguity aversion
  • Fairness, social preferences, and conditional cooperation
The concepts and theories are presented in lectures. Students practice their theory application skills by presenting and discussing critical issues and applications of these theories in the seminar.
Recommended Prerequisites:None
Mandatory Prerequisites:None
Forms of Teaching and Proportion:
  • Lecture / 2 Hours per Week per Semester
  • Seminar / 2 Hours per Week per Semester
  • Self organised studies / 120 Hours
Teaching Materials and Literature:Slides for the lecture and literature for self-study will be available via Moodle at the beginning and throughout the semester.
Module Examination:Continuous Assessment (MCA)
Assessment Mode for Module Examination:
  • Seminar presentations, 20 min, and discussion in seminar (25 %)
  • Written exam, 60 min (75 %)
Evaluation of Module Examination:Performance Verification – graded
Limited Number of Participants:None
Part of the Study Programme:
  • Abschluss im Ausland / Betriebswirtschaftslehre / keine PO
  • Bachelor (research-oriented) / Betriebswirtschaftslehre / PO 2017
  • Bachelor (research-oriented) / Betriebswirtschaftslehre / PO 2024
  • Bachelor (research-oriented) - Co-Op Programme with Practical Placement / Betriebswirtschaftslehre - dual / PO 2024
  • Bachelor (research-oriented) / Environmental and Resource Management / PO 2015
  • Master (research-oriented) / Transformation Studies / PO 2024
  • Master (research-oriented) / Umweltingenieurwesen / PO 2021
  • Bachelor (research-oriented) / Wirtschaftsinformatik / PO 2024
 This module has been approved for the general studies.
Remarks:Early registration in Moodle is required (latest in the first week of the semester).
Module Components:
  • Lecture / 2 SWS
  • Seminar / 2 SWS
  • Self-Study / 120 Stunden
Components to be offered in the Current Semester:
  • no assignment