Program Image From Preference to Choice: The Economic Theory of Decision-making

From Preference to Choice: The Economic Theory of Decision-making

Short or summer course

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This course shows that the core of economic theory is actually very broad, and highlights the linkages to other social sciences. It will also go into the question of why this core seems to have been forgotten in economics.

Hence, during the Summer School, we follow the trail from individual preferences to individual choices, and from the latter to societal dilemmas and social choice—all under varying physical, monetary, political, or psychological circumstances. Along the way, we encounter utility maximization of the individual under a budget constraint—the bedrock of standard welfare economics—but also alternatives, such as lexicographic ordering and representations of individual and social choices on immaterial aspects of life (democratic values, concerns on equality, inclusivity, safety). We discuss interpretations of circumstances that determine freedom of choice, varying from marketing tools to concepts in game theory, political science and psychology. For decision making under uncertainty, the course contrasts maximization of expected utility with alternative models that can handle catastrophic risks, different types of uncertainty, and qualitative assessments of future outcomes. Throughout, the course connects theoretical representations with quantifiable model representations and includes hands-on exercises.

Language

English

Title

-

Duration

5 days

ECTS credits

Accreditation

Information not available

Tuition fee 2025/2026

€ 1,000


Admission

Application requirements

The course welcomes (research) master students, PhD students, post-docs with a social science background, or a science / humanities background with a strong interest in social sciences. A basic knowledge of quantitative methods and programming (in R or GAMS) is useful, but not required

Check when you can start and what you have to pay!

Tuition fees  
€ 1,000
Information not available
Information not available
Start date App. deadline EU/EEA App. deadline Non-EU/EEA
7 Jul '25 22 Jun '25 22 Jun '25

Contact

Vrije Universiteit Amsterdam

Main address
De Boelelaan 1105
1081 HV Amsterdam
020-5985020

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