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The Art and Science of Decision-Making. The assignment links: http://similarminds.com/jung.html http://www.humanmetrics.com/cgi-win/jtypes2.asp [email protected] Please email the 4 letter preferences to Jason at the address above. Definitions. Art: - PowerPoint PPT Presentation
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The Art and Science of Decision-Making
The assignment links:http://similarminds.com/jung.html http://www.humanmetrics.com/cgi-win/jtypes2.asp [email protected] Please email the 4 letter preferences to Jason at the address above
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Definitions
Art:
Skill acquired by experience or study Systematic use of knowledge or skill in making or doing things The use of skill and imagination in the production of things of beauty
Science:
Study concerned with observation and classification of facts and (especially) with the establishment of verifiable general laws
Accumulated systematized knowledge especially re physical world
Source: Webster’s.
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Art
Science
World of human interaction
Social Sciences
World of material objects
Nature Sciences
Source: Standards by Laurence Busch.
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Before Decision Deliberation Decision
Post-Decision
Advising
Making
Explaining
Implementing
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From 2 Legends in Advertising
“Advertising is fundamentally persuasion and persuasion happens to be not a science, but an art.”
- Bill Bernbach
“Advertising is based on fixed principles and is reasonably exact. We know what is most effective and we act on basic laws.”
- Claude Hopkins
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Key Concepts
Personality types Cognitive dissonance Selective perception Framing Deliberations
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The Art and Science of Decision-Making – Spring 2013Rob Duboff/Jason Robins
Week 1 (1/28)Introduction of individual students and their reasons for taking the course
o Finalize syllabus as/if neededIs decision-making primarily rational or emotional?Organization of course: address specific issues each weekAssignment: Short essay on whether study of decision-making is an art or a science View Super Bowl Ads Week 2 (2/4) – Perspectives on Decision-Making Discuss the noteworthy ads
o Implications about consumers?o Decisions to put on the ads
Contexts for thinking about decisionso Art vs. scienceo Rational vs. emotionalo Prospective vs. retrospectiveo Individual vs. group decisionso Advising vs. making decisionso When to decide (vs. what or how)
Assignment: Take MBTI
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The Art and Science of Decision-Making – Spring 2013Rob Duboff/Jason Robins
Week 3 (2/11): Individual Differences Discuss MBTI and implications on decision-makingHow can understanding personal differences help in group decisions? In explaining decisions?Risk profilesAssignment: Read Blink by Gladwell (Chapters 1-4; Conclusion) Week 4 (2/25): Self-Awareness Discuss Blink and implications for decision-makingDoes self-awareness help or hurt decision-making?How does knowing yourself help in making decisions about buying a homeAssignment: Select essay topic and lab focus (e.g., influencing others vs. own decisions) Read Thinking, Fast and Slow by Kahneman (sections to be announced)
Week 5 (3/4): What Influences Decisions Reprise: is decision-making art or science?What does science (in terms of type 1 and type 2 delineation) tell us about making decisions?NegotiationsAssignment: Essay applying MBTI and books to a past decision – due 3/11 Read article from course web site
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The Art and Science of Decision-Making – Spring 2013Rob Duboff/Jason Robins
Week 6 (3/11): Individual vs. Group DecisionsWhen are group decisions better/worse than individual decisions?Are juries rational?Are they fair?Assignment: Read article from course web site Week 7 (3/25): Personal vs. Business vs. Government Decisions Detail similarities and differences re process and substance
o How is a start-up different?How might we all do better?Assignment: Background for classroom decision lab options (i.e., a case study)
Week 8 (4/1): Decision-Making in ActionDecision lab (1)Teams discuss issues and then try to influence decision of a tribunal of other students
Week 9 (4/8): Decision-Making in ActionDecision lab (2)Teams discuss issues and then try to influence decision of a tribunal of other students
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The Art and Science of Decision-Making – Spring 2013Rob Duboff/Jason Robins
Week 10 (4/15): Decision-Making Debrief and Decision-Making Process What have we learned about decisions?
o Best process(es)o Use of group (or not)o Role of information/ “facts”
Assignment: Select final paper topic ( 3-5 pages) Read Competing on Analytics (from web site) Week 11 (4/22): Supporting Decisions Developing the information you/someone else needsMarket researchHow make decisions with imperfect knowledge
o “Big data” vs. “insights”Assignment: Start final paper Read Being Wrong by Schulz (Chapters 1-3 and 13-15)
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The Art and Science of Decision-Making – Spring 2013Rob Duboff/Jason Robins
Week 12 (4/29): The Decision-Making Process Decision trees/Bayesian analysis overviewWhat have we learned about decisions?
o Best process(es)o Use of group (or not)o Role of information/ “facts”
Assignment: Complete final paper on a decision to be made in the future
Week 13 (5/13): How Can We Make the Process and Substance of Decisions Better?Summary of courseIs decision-making a puzzle or a mystery?
