In the elective period class Behavioral Judgment and Decision Making, International MBA students have been engaged in experimental learning using behavioral simulators. In areas such as economics and finance, where traditional methods of predicting real world behavior have been unsuccessful this new methodology is receiving a lot of attention.
As IE Professor Lee Newman asserts: “We can study how people should behave and how people actually behave. Historically, these two approaches have been pursued independently. If we want to design better market mechanisms, craft more effective policies, and create more productive organizations we have to study and teach both perspectives, ideally at the same time.”
To read more about what this class entailed, click here.