Games against Nature and the Role of Information in Decision-Making under Uncertainty

1997 ◽  
pp. 185-196
Author(s):  
Tapan Biswas
Author(s):  
Pedro B. Água ◽  
Anacleto Correia

Among the growing demands in corporate governance is better decision-making. The best board dynamics and focus on substantive business issues do not ensure effective boards functioning. Better decision-making implies the availability of quality information in adequate amounts. Better information does not exist on its own, it is necessary to design adequate information architectures in order to gather such information for effective board decision-making. Relying on solid information sources fosters awareness and lies the grounds for a better information architecture, so directors can do their job in a more effective and efficient way. What, why, how and where questions shall be raised in order to reach such goals, and the pillars for such architecture shall be laid down, by means of an adequate information architecture. This text provides clarity and the main thinking behind such information architecture design, ending with a set of recommendations


Author(s):  
José Rascão

This chapter investigates the key concepts of information systems, as well as the role of information in the information management activities, in terms of supporting decision making by different organizations' managers in the literature of information sciences and business sciences. The information has become, in the global economy, a source of value for organizations, assuming a key role in contributing to the development of the performance of the same. The relationship of information management with business management helps the process of decision making.


2020 ◽  
Vol 12 (16) ◽  
pp. 6598 ◽  
Author(s):  
Uthpal Kumar ◽  
Saskia Werners ◽  
Sharmishtha Roy ◽  
Sadia Ashraf ◽  
Long Phi Hoang ◽  
...  

Farmers in the lower Bengal Delta around the city of Khulna, Bangladesh, are particularly vulnerable to hydro-climatic variability. Phenomena such as heavy rain, drought and salt intrusion increasingly affect their crop production, with far-reaching socio-economic and environmental impacts. Reliable hydro-climatic information service received in a timely manner could help farmers improve their responses to hydro-climatic variability, thus improving their agricultural decision-making. However, significant challenges persist regarding information uptake and the role of information from the available sources. We designed an explorative research framework combining different participatory methods and analysis of climate data. Our aim was to examine three key research questions: (i) what information is currently available to farmers for agricultural practices and decision-making? (ii) what is the perceived quality of the available hydro-climatic information in response to water and weather related stresses? (iii) how does the available information influence farmers’ decision-making? We found that farmers had access to information from five main sources: informal contacts, formal contacts, education and training programs, traditional media (like television) and modern ICT tools/social media. However, informal contacts, particularly with peer farmers and private input suppliers, were the farmers’ main source, in addition to their own previous experiences. Farmers perceived hydro-climatic variability as high and the quality of available hydro-climatic information as poor. They indicated a need for more accurate, time-specific, trusted and actionable information for improving agricultural decision-making. We conclude that there is high potential and need for hydro-climatic information services tailored for farmers in the study area.


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