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Instructors: Dr. Adnan Shah
Event type:
Seminar
Displayed in timetable as:
Con. and Mgt. Dec.
Hours per week:
3
Credits:
6,0
Language of instruction:
English
Min. | Max. participants:
10 | 31
Comments/contents:
Seminar Description: Customers employ strategies of choice. Understanding these consumer decision-making processes, behaviors and contributing influences is the essential challenge of this seminar. Both theoretical and applied understandings of the major consumer behavior theories and concepts are developed. Students are engaged with the application of current consumer behavior theory, research findings and methodologies in order to understand, explain, and predict consumer behavior.
Based on the consumer behavior theories and concepts, the seminar gives an introduction into various aspects of investing decision-making. Investors are expected to act irrationally and without complete information. Investors as actors and their behavior are in the focus of analysis. We investigate how investment decisions are formed and how investors make a mistake. We look at strategies and instruments to alleviate those errors.
In the seminar, you will search literature for every aspect of comsumer decision making and behavior. You will derive the conceptual framework and apply them to a specific application case. You are expected to draw from consumer behavior literature and, in a second step, relate the findings to behavioral investing. Cases and real-life examples shall be used in exercise sessions for critique, analysis, and discussions.
Learning Objectives: This seminar introduces students to the field of behavioral decision making. The primary emphasis is on the ability to gain a better understanding of the mechanisms, clues, and limitations that underpin individual decisions.
On successful completion of the seminar students will be able to:
- Interpret foundations of investors’ behavior in a variety of consumption contexts.
- Recognize (Multidimensional) investor goals that shape the behavioral decision-making and financial well-being.
- Identify imperfect information as corporate disclosures, media and institutional releases, and ambiguity in information.
- Employ consumer behavior theory in strategic and tactical marketing management decision-making.
- Limitations of human cognition such as risk assessments, financial expertise, psychology and emotions, and personality traits.
- Identify biases in information processing like decision-making biases and sentiments.
- Outcomes of consumer and management decisions: portfolio analysis and formation, designing investment products, and behavioral asset pricing.
Literature: Participants can expect to receive information on the relevant literature in the initial session of the seminar.
Examination: Written examination.
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