Money, Risk, and Ethics: The Psychology of Decision-Making

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This course examines how ethical decision-making unfolds at the intersection of law and psychology. Drawing on real-life legal casesand a host of classic psychological experiments, we explore how cognitive biases such as loss aversion, status quo bias, and framing effects can complicate even the most straightforward moral choices. You’ll explore how our natural tendency to focus on what is most salient in any given situation can skew risk assessments, and how motivated reasoning and self-serving biases may subtly warp our judgments, whether in the boardroom, the courtroom, or everyday life. Finally, we round out our investigation with practical tools—like decision matrices—that empower you to break down complex decisions into their component parts, ensuring that your choices not only reflect your core values but also withstand rigorous, objective scrutiny.

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Tess Wilkinson-Ryan

Professor of Law and Psychology