From classical to contemporary times, two professional skills have remained indispensable for leadership: wise judgment and effective decision-making. Should we take the risky option or the safe one? Are we selecting the best talent? Are our choices ethical? How can we be sure? Are emotions distorting our perceptions? How should accountability be structured? How can machines best augment human performance? To what extent can leaders reduce worker stress while achieving organizational goals? And how can leaders empower employees and citizens to make sound, unbiased decisions?While this course will not decree what leaders should choose, it will address how leaders should choose—how to estimate risks, structure decisions, and apply scientific evidence to achieve rational choice in an uncertain world. It also equips leaders with tools for structuring public decision environments that can help everyone make better choices. The ultimate goal is to promote health, prosperity, security, justice, and well-being by helping individuals, institutions, and the public make wise judgments and timely, effective decisions that align with their objectives, especially in an era of increasing complexity and uncertainty.
Specifically, grounded in theories and evidence from psychology, behavioral economics, neuroscience, and ethics, the course will enable students to:
(1) Learn about the academic field of behavioral decision making, its major theories, results, and debates; (2) Become a critical consumer of scientific research findings, learning methodological standards for evaluating the soundness of empirical studies; (3) Develop the ability to effectively write and speak about behavioral science theories, results, and debates; (4) Acquire practical skills for improving your own judgments and decisions across a range of topics, including choices that involve value tradeoffs and deep ethical consideration; (5) Acquire knowledge of which biases individuals can fix with training/knowledge and which biases individuals cannot fix unless leaders engage in institutional and/or policy design (e.g., nudges); (6) Learn how to become “choice architects,” designing better judgment and decision environments in order to reduce bias and inaccuracy, making organizations smarter and fairer; and (7) Most important: Synthesize concepts/theories across topics, readings, and discussions to improve judgment and decision-making processes in the real world.
There are no specific prerequisites for this course. However, prior courses in psychology, behavioral economics (including MLD-304*), and statistics may be helpful. Cross registrants wel
