
From Preference to Choice: The Economic Theory of Decision-making
Short or summer course

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.
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Visit course websiteLanguage
English
Title
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Duration
5 days
ECTS credits
ECTS
The European Credit Transfer and Accumulation System (ECTS) is a student-centred system based on the student workload required to achieve the objectives of a programme of study. Its aim is to facilitate the recognition of study periods undertaken by mobile students through the transfer of credits. The ECTS is based on the principle that 60 credits are equivalent to the workload of full-time student during one academic year.
Accreditation
Information not available
Tuition fee 2025/2026
EU/EEA
The EU/EEA rate is the regular fee for students from within the EU/EEA.
€ 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 | |
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€ 1,000 | |
Non-EU/EEAThe non-EU/EEA rate is the rate for students from outside the EU/EEA. |
Information not available |
InstitutionalThe institutional rate is for all students who have already obtained a bachelor’s or master’s degree and who want to start a second programme leading to a degree at the same level or at a lower level. |
Information not available |
Start date | App. deadline EU/EEA | App. deadline Non-EU/EEA |
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7 Jul '25 | 22 Jun '25 | 22 Jun '25 |
Contact
Main addressDe Boelelaan 1105
1081 HV Amsterdam
020-5985020
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