Managerial Decision Sciences Department

Some problems in life are well structured and can be solved by taking well-defined action: when you have a flat tire, you will be able to continue with your journey if you follow the instruction manual. But in the business world, most situations and problems are not so simple. Problems usually have economic, technical and human sides and there is generally not just one right solution. Managers must solve problems efficiently, effectively and ethically every day. “The chief-executive job of tomorrow will include understanding of a host of new basic tools of mathematical and logical analysis, synthesis and measuring. It will require ability to see where these tools can be applied, the power to educate other members of management in their meaning and use, and some elementary skill in applying them.” (Peter Drucker)

By teaching how to carry out effective analysis, the Managerial Decision Sciences Department helps managers solve practical business problems while addressing personal assessment, available data and analytical techniques.

Coursework includes: Structuring of Business Problems; Forecasting, Creativity and Innovation; Sensitivity Analysis; Scenario Simulation; Investment Analysis; Quantitative Methods for Management; Probability Distributions; Model Building; and Intangibles in Decision Making.

Thanks to their research work, the department’s faculty members help extend the limits of knowledge in the areas of decision-making, uncertainty, innovation and intuition.


  • Conference of the European Decision Sciences Institute

Areas of expertise

  • Decision-making in firms
  • Macroeconomic uncertainty
  • Time and uncertainty
  • Country-specific differences in life satisfaction
  • Business performance metrics
  • Corporate governance

Executive Fellows


Journal Articles (refereed)

KÄMMER, J. E., CHOSHEN-HILLEL, S., MÜLLER-TREDE, J., BLACK, S. L., WEIBLER, J. (2023). A systematic review of empirical studies on advice-based decisions in behavioral and organizational research.. Decision. doi:10.1037/dec0000199. (Online first)
SHER, S., MCKENZIE, C. R. M., MÜLLER-TREDE, J., LEONG, L. (2022). Rational choice in context. CURRENT DIRECTIONS IN PSYCHOLOGICAL SCIENCE, 31 (6), 518-525. doi:10.1177/09637214221120387.
LEONG, L. M., MÜLLER-TREDE, J., MCKENZIE, C. R. M. (2022). Is it a judgment of representativeness?. Re-examining the birth sequence problem. Psychonomic Bulletin & Review. doi:10.3758/s13423-022-02188-9. (Online first)
IMBERNON, U., CASANOVAS-RUBIO, M. D. M., MONTEIRO, C., ARMENGOU, J. (2022). A decision-making method for planning exhibitions in arts organizations. A case study of CaixaForum Barcelona. EVALUATION AND PROGRAM PLANNING, 93, Article 102102. doi:10.1016/j.evalprogplan.2022.102102.
BARROSO DEL TORO, A., TORT-MARTORELL, X., CANELA, M. Á. (2022). How shareholders react to sustainable narratives about leading European energy companies?. An event study using sentiment data from the global database for events, language and tone (GDELT). Applied Economics, 54 (30), 3482-3494. doi:10.1080/00036846.2021.2009759.
LEE, J., JUNQUÉ DE FORTUNY, E. (2022). Influencer-generated reference groups. Journal of Consumer Research, 49 (1), 25-45. doi:10.1093/jcr/ucab056.
MÜLLER-TREDE, J., ROTTENSTREICH, Y., MARKLE, A. (2022). Risky Sure Things. Management Science. (Forthcoming)
ALEGRE, I., CANELA, M. Á., PASTORIZA, D. (2022). Dataset on PGA Tour tournament entry. Data in Brief, 41, Article 107952. doi:10.1016/j.dib.2022.107952.
FEILER, D., MÜLLER-TREDE, J. (2022). The One that got away. Overestimation of forgone alternatives as a hidden source of regret. PSYCHOLOGICAL SCIENCE, 33 (2), 314-324. doi:10.1177/09567976211032657.
PONS, O., CASANOVAS-RUBIO, M. D. M., ARMENGOU, J., DE LA FUENTE, A. (2021). Sustainability-driven decision-making model. Case Study of Fiber-Reinforced Concrete Foundation Piles. Journal of Construction Engineering and Management, 147 (10). doi:10.1061/(ASCE)CO.1943-7862.0002073.

Working Papers

ARIÑO, M. Á. (2020). Descomposición del PIB de España en el periodo 2002-2019 (WP-1303). Barcelona: IESE.
MOLESKIS, M., ALEGRE, I. (2018). Crowfunding: a short past and long future.
N'GUESSAN, M. N., ALEGRE, I., CANELA, M. Á. (2017). Crowdfunding In Africa. An Empirical Study Of Kiva Platform Users In Sub-Saharan Africa (WP-1172-E). Barcelona: IESE.
ARIÑO, M. A. (2017). Evolución del tejido empresarial español de 2006 a 2014 (WP-1179). Barcelona: IESE.
IBARRA GARZA, A., CUGUERÓ-ESCOFET, N., CANELA, M. Á. (2017). Prosocial Crowdlending in Kenya (WP-1166-E). Barcelona: IESE.


ALEGRE, I., BERBEGAL-MIRABENT, J., GUERRERO, A., MAS-MACHUCA, M. (2018). Mission-statement. A Systematic review of the literature. Proceedings of the III Research Workshop: Mission, leadership and sustainability. (pp. 11-27).
SRIVASTAVA, N., MÜLLER-TREDE, J., SCHRATER, P., VUL, E. (2016). Modeling Sampling Duration in Decisions from Experience. In Papafragou, A., Grodner, D., Mirman, D., & Trueswell, J.C. (Eds.), Proceedings of the 38th Annual Meeting of the Cognitive Science Society (pp. 2285 - 2290). Cognitive Science Society.
ALEGRE, I. (2016). A light at the end of the tunnel: Mission Statements in Social Enterprises. Book of Abstracts of the II Research Workshop on Missions, leadership and sustainability. Universitat Internacional de Catalunya.
MAS-MACHUCA, M., BERBEGAL MIRABEN, J., ALEGRE, I. (2015). The role of work-family balance on job satisfaction. In Ritta Cavallotti and Consuelo León (Ed.), Family and sustainable development : Proceedings of the Second International Conference Family and Society : 24-25 September, 2014, Barcelona (pp. 441 - 455).
GARCÍA-CASTRO, R. (2012). An Extension of the VCA Model to Estimate Stakeholder Value Appropriation. Academy of Management Proceedings: Meeting Abstract Supplement.

RICART, J. E., ALEGRE, I., YONG, A., ROUSSEAU, H., BERRONE, P. (2021). Does Voluntary regulation supplement or substitute for organizations’ readiness for climate change?. Evidence of the impact of voluntary regulation on green public procurement. SMS 41st Annual Conference, Virtual Toronto.
ALEGRE, I. (2021). Evaluation systems in online evironments. 7th International Conference on Higher Education Advances (HEAd'21).
ALEGRE, I. (2020). Conditioning the effect of prize on tournament self-selection. INFORMS Annual Meeting 2020, Virtual.
ALEGRE, I. (2020). Conditioning the effect of prize on tournament self-selection. SMS 40th Annual Conference, Virtual.
ALEGRE, I. (2020). Crowdfunding PDW. 80th Annual Meeting of the Academy of Management.

Articles in other publications

MÜLLER-TREDE, J. (2022). The one that got away. IESE Business School Insight (162), pp. 56-61.
MÜLLER-TREDE, J. (2022). Las oportunidades que dejas pasar. IESE Business School Insight (162), pp. 56-61.
ALEGRE, I., VALOR SABATIER, J. (2021). Fake News, un gran reto para las empresas en el S.XXI. Harvard Deusto Business Review, 315, pp. 52-60.
GARCÍA-CASTRO, R., ARIÑO, M. A. (2019). Cómo tomar decisiones maravillosas. IESE Business School Insight (154), pp. 68 - 74.
GARCÍA-CASTRO, R., ARIÑO, M. A. (2019). Wonderful decisions. IESE Business School Insight (154), pp. 68 - 75.


CANELA, M. Á., ALEGRE, I., IBARRA, A. (2019). Quantitative Methods for Management: A Practical Approach. Berlin: Springer.
GARCÍA-CASTRO, R. (2019). Business Analytics R.
GARCÍA-CASTRO, R., ARIÑO, M. A. (2018). Wonderful Decisions.
ARIÑO, M. A., MAELLA, P. (2017). Con la misma piedra: Los 10 errores que todos cometemos al decidir. Barcelona: Empresa Activa.
ARIÑO, M. A., MAELLA, P. (2011). Iceberg Sighted (e-book). Decision-Making Techniques to Avoid Titanic Disasters. Barcelona:

Book Chapters

ALEGRE, I., ARIÑO, M. A. (2022). Ethics and learning in organizations. In Poff, Deborah C. and Michalos, Alex C. (Eds.), Encyclopedia of Business and Professional Ethics. Cham: Springer International Publishing.
BASTONS, M., BENGURÍA, R., ARMENGOU, J., REY, C. (2020). Mission-based corporate sustainability. the Aigües de Barcelona model. In Díaz Díaz, B.; Capaldi, N.; Idowu, S.O.; Schmidpeter, R. (Eds.), Responsible business in a changing world: new management approaches for sustainable development (pp. 311 - 328). Cham: Springer International Publishing.
HEUKAMP, F. (2019). AI and the Leadership Development of the Future. In Jordi Canals, Franz Heukamp (Eds.) (Eds.), The Future of Management in an AI World: Redefining Purpose and Strategy in the Fourth Industrial Revolution (pp. 137 - 148). Basingstoke [England]: Palgrave Macmillan.
CANELA, M. Á., GUÇLU, B., ALEGRE, I. (2019). An Exploratory Analysis Using Co-Authorship Network: Trends in Risk Behavior. In Dileep Kumar G. (Ed.), Machine Learning Techniques for Improved Business Analytics (pp. 166 - 200). Hershey, PA: Igi Global.
N'GUESSAN, M. N., ALEGRE, I., BERBEGAL MIRABEN, J., MAS-MACHUCA, M. (2018). Crowd lending: A global phenomenon arrives to Sub-Saharan Africa. In Nezameddin Faghih (Ed.), Globalization in Developing Economies. Berlin: Springer.


PRADERIO, M., ZANCA, J., IGLESIAS, A., ARIÑO, M. A. (2020). Modeling epidemic effects via multi-phase partitioned SEIQRD. Bee The Data.
ALEGRE, I., CHINCHILLA, N., LEÓN, C., CANELA, M. Á. (2007). Políticas de conciliación, liderazgo y cultura en 2.200 PYMES españolas.


ARMENGOU, J., GARCÍA-CASTRO, R. (2023). El dilema de Algorismika, S.L.. IESE, AD-383.
DE SANTIAGO, R. (2022). AGC Pharma Chemicals. IESE, AD-386-E.
GARCÍA-CASTRO, R. (2022). Weissbier Analytics. IESE, AD-387-E.
DE SANTIAGO, R. (2022). Flying Across the Sea. IESE, AD-382-E.
MIGUEL A. ARIÑO,, RODRÍGUEZ MARISCAL, M. (2022). BioRecilGent (A). IESE, AD-380.

Technical Notes

SERRANO, A., ALEGRE, I., ALONSO, C. (2022). Microsoft Excel Essentials II. IESE, ADN-290-E.
ALEGRE, I., SERRANO, A., ALONSO, C. (2022). Microsoft Excel Essentials I. IESE, ADN-289-E.
GARCÍA-CASTRO, R. (2021). Measuring Risk in Investment Projects: NPV at Risk. IESE, ADN-286-E.
BAUCELLS, M., HEUKAMP F. H., F. (2021). Risk Preferences and the Role of Intuition Under Uncertainty. IESE, ADN-287-E.
BAUCELLS, M., GARCÍA-CASTRO, R. (2021). Subjective Decisions, Perception, and Time. IESE, ADN-288-E.