Behavioural Modes for Individual Choices 2019
Understanding how people make decisions and what drives their choices is a key question in several disciplines such as transport, economics, sociology, psychology, marketing, and the environment. This course will enable you to understand, model and forecast how individuals make decisions. It will provide you with knowledge of: the fundamentals of decision-making theory, with particular emphasis on understanding different views of the decision-making process between the two approaches of perfect and bounded rationality, the pros and cons of each approach, and the importance of moving towards a unified theory of the decision process the mathematical models most commonly used to simulate and forecast individual choices, starting from the very popular discrete choice models (which are based on the neoclassical economic assumption of rational decision makers) and extending them to account for several effects of bounded rationality.
- Event Type:
- Workshops/Training Courses
- Feb. 11-15, 2019
- School of Engineering, Newcastle University
- Newcastle upon Tyne , UK