Decision and Risk


When approved the student will:

- have had contact with the problematic of decision-making with a single or multiple decision makers,

- know the most important models of decision support, with or without negotiation, and risk,

- understand what kind of data should be collected and processed to support previous models,

- be able to identify and build the adequate models for problems that he or she may face his/her future professional context.

General characterization





Responsible teacher

Nelson Fernando Chibeles Pereira Martins


Weekly - 4

Total - 72

Teaching language



Available soon


Hillier, Lieberman, Introduction to Operations Research, Mc Graw - Hill, 10th ed (2015) 

Goodwin, P. e Wright, G. – Decision Analysis for Management Judgement (2014) – John Wiley & Sons

Opricovic, S., Tzeng, G.-H., (2004). Compromise solution by MCDM methods: A comparative analysis of VIKOR and TOPSIS. Eur. J. Oper. Res. 156, 445–455.


Fudenberg F. and Tirole, J. (1995) Game Theory, The MIT Press, 1995.

Kelly A. (2003) Decision Making Using Game Theory: An Introduction for Managers, Cambridge University Press.

Peterson M. (2009) An Introduction to Decision Theory, Cambridge University Press.

Vose D. (2008) Risk Analysis: A Quantitative Guide. John Wiley & Sons.

Teaching method

Please, contact the e-mail

Evaluation method

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Subject matter

I. Decision theory - what is a decision? - structure and analyses of decision-making problems - sequential decisions - decisions with several objectives

II. Game theory - modelling strategic interaction - static games of complete information - dynamic games of complete and incomplete information - cooperative game theory

III. Risk - definition - fundamental model of risk - factors and measures of risk other models for risk


Programs where the course is taught: