PS918-10 Psychological Models of Choice
Introductory description
The main aim of this module Psychological Models of Choice is to review theories of individual choice. Core empirical results in the decision-making literature will be reviewed and their theoretical implications explored.
Module aims
The module will cover the major theories of choice, with emphasis upon choices involving risk and time. Secondary aims include developing criticisms of methodologies, the ability to implement mathematical models of decision making, and appreciation of the strengths and weaknesses of different theoretical approaches.
Outline syllabus
This is an indicative module outline only to give an indication of the sort of topics that may be covered. Actual sessions held may differ.
Introduction to cognitive modelling
Psychological Models of Risky Choice
Evidence Accumulation models
Heuristics
Information Biases
Emotions and arousal
Big Data & Choice models
Decision by sampling
Learning outcomes
By the end of the module, students should be able to:
- 1. Read, understand, and critically evaluate academic articles that report models of choice
- 2. Describe and discuss the strengths and weaknesses of the most important models of individual choice
- 3. Implement a mathematical model of individual choice; understand and analyse the relation between theory and data
- 4. Describe and evaluate the appropriateness of key experimental methods for testing models of decision making
- 5. Understand the theoretical importance of core, critical empirical results in decision making
Indicative reading list
Reading lists can be found in Talis
Subject specific skills
- Understanding & evaluation of models of individual choice
- Analysis of relationships between theory and data
- Development of criticisms of methodologies
- Implementation of mathematical models of decision making
Transferable skills
- Critical evaluation of academic articles
- Discussion of the strengths and weaknesses of models
- Evaluation of the appropriateness of experimental methods
Study time
| Type | Required |
|---|---|
| Lectures | 9 sessions of 2 hours (18%) |
| Practical classes | 5 sessions of 2 hours (10%) |
| Private study | 72 hours (72%) |
| Total | 100 hours |
Private study description
70 hours private guided study, including completion of assessments
Costs
No further costs have been identified for this module.
You do not need to pass all assessment components to pass the module.
Assessment group A3
| Weighting | Study time | Eligible for self-certification | |
|---|---|---|---|
Assessment component |
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| Test 1 | 16% | No | |
Reassessment component is the same |
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Assessment component |
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| Modelling Assignment | 50% | Yes (extension) | |
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Modelling Assignment |
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Reassessment component is the same |
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Assessment component |
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| Test 2 | 17% | No | |
Reassessment component is the same |
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Assessment component |
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| Test 3 | 17% | No | |
Reassessment component is the same |
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Feedback on assessment
The class tests will be reviewed in class with detailed feedback provided about the correct answers and discussion of the some of the common errors. Individual one-on-one feedback will also be provided upon request.
Written feedback will be provided on the writing assignment and on the written report for the modelling assignment.
Courses
This module is Optional for:
- Year 1 of TIMA-L981 Postgraduate Social Science Research