Decision Models

Name: Decision Models
Code: GES12556D
Duration: 15 weeks/156 hours
Scientific Area: Management

Teaching languages: Portuguese
Languages of tutoring support: Portuguese, English
Regime de Frequência: Presencial

Sustainable Development Goals

Learning Goals

This UC is following the mandatory UC Analytical Models. Its purpose is to deepen the concepts developed in the first part of Analytical Models with regard to the problem solving process and the decision making process. It is intended that the student acquire the following knowledge:
• Understand and analyse the different decision theories in the context of risk, uncertainty and ambiguity
• Understand, formalize and analyse optimization models applied to specific areas of management
In this unit the following competences are developed:
• Ability to understand and critically evaluate theories and more complex decision models • Ability to formalize and solve more complex optimization models
• Ability to interpret economically the results obtained
• Ability to assess and conduct research in this area


1 - Decision Theories in context of risk, uncertainty and ambiguity 1.1 Behavioural aspects of decision making
1.2 Expected Utility Theory
1.3 Prospect Theory
1.4 Alternative decision theories in risk context 1.5 Methods of eliciting utility

2 - Optimization models
2.1 Specific models of Linear Programming
2.2 Multi-objective, Dynamic and Integer Programming Models 2.4 Data Envelopment Analysis (DEA)

Teaching Methods

The teaching sessions are theoretical-practical, combining the concepts with their application to concrete examples. Sections are supported in PowerPoint presentations, using the framework, to make statements of results and resolve practical cases.
For the first part of the UC students have to do analysis of papers that apply the themes presented in this section. In the second part, there will be a work that in the students will have to apply one of the methodologies studied to a specific area of management.

Teaching Staff