Mathematical problems of decision-making in organizational systems

2019 ◽  
Author(s):  
Андрей Тараканов ◽  
Andrei Tarakanov
Keyword(s):  
Decision Making ◽  
Complex Structure ◽  
Sufficient Conditions ◽  
Point Of View ◽  
Decision Makers ◽  
Organizational Systems ◽  
Current State ◽  
Information Interaction ◽  
Mathematical Problems ◽  
Theoretical Results

The theory of decision-making in organizational systems with complex structure in the conditions of conflict and uncertainty is stated. A review of the current state of the theory is given. Systems are studied: hierarchical, coalition and coalition-hierarchical (hybrid). The main attention in the process of designing mathematical models of systems is paid to the description of ways of information interaction of decision makers. This takes into account the options of their unfavorable (conflict) and benevolent “attitude” to each other. Two approaches to decision-making are proposed: 1) decision-making from the point of view of the selected participant of the system based on the method of penalty functions and obtaining the necessary conditions of optimality; 2) decision-making in the form of equilibria based on special principles of optimality, constructed using the principles of Nash, Pareto, Geoffrion, Stackelberg, Slater, threats-counter-threats, absolute active equilibrium and obtaining sufficient conditions of optimality. Theoretical results are illustrated by model examples. For researchers, graduate students and students involved in theoretical and practical issues of decision-making in complex systems.

scholarly journals THE EFFECT OF COGNITIVE AND EMOTIONAL BIASES ON THE CAPITAL STRUCTURE DECISIONS: A LITERATURE REVIEW

2014 ◽  
Vol 8 (2) ◽  
Author(s):  
Tekin Bilgehan ◽  
Gor Yusuf
Keyword(s):  
Decision Making ◽  
Capital Structure ◽  
Behavioral Finance ◽  
Point Of View ◽  
Decision Makers ◽  
Empirical Literature ◽  
Behavioral Characteristics ◽  
Strategic Choices ◽  
Emotional Process ◽  
The Capital Structure

Each decision-making process is an important cognitive and emotional process which is open to the emotional effect. Individuals make a decision about a future uncertainty either to feel good or maximizing gain by minimizing the loss ratio. Recently, researches in finance have criticized that the capital structure decisions and firms’ funding and strategic choices deviate from the traditional neoclassical paradigm. Furthermore there is a nascent empirical literature that has exposed interesting evidence of the effects of managerial behavioral biases. Managers’ decisions, that to create the capital structure, have a vital importance for the company. The behavioral finance (BF) approach may be revealed useful results in the process of solving decision-makers’ behaviors and thoughts. In this context the purpose of this study is to reveal if the managers are affected by their behavioral characteristics in the process of the financing decision-making, based on the findings of studies in the literature. From this point of view behavioral finance literature, which is about the financing and capital structure decisions, is investigated. As a result, theoretical and empirical analyses, which discussed in the literature, show that managers’ biases play an important role in explaining the capital structure choice.

D Minus Months: Strategic Planning for Weather-Sensitive Decisions

2021 ◽  
Author(s):  
Eva D. Regnier ◽  
Joel W. Feldmeier
Keyword(s):  
Decision Making ◽  
Decision Analysis ◽  
Weather Forecasting ◽  
Decision Makers ◽  
Strategic Decisions ◽  
Sequential Decisions ◽  
Weather Forecasts ◽  
Current State ◽  
Set Up ◽  
Made In

General Eisenhower’s decisions to postpone and, one day later, to launch the “D-Day” invasion of Normandy are a gripping illustration of sequential decisions under uncertainty, suitable for any introductory decision analysis class. They’re also the archetypal example of weather-sensitive decision making using a forecast. This paper develops a framework for analyzing weather-sensitive decisions with a focus on the less-familiar strategic decisions that determine how forecasts are produced and what operational alternatives are available so that decision makers can extract value from forecasts. We tell the story of the decisions made in the months before D-Day regarding how to set up the forecasting process and the myriad decisions implicating nation-level resources that prepared Allied forces not just to invade, but to hold open that decision until the last possible hour so that Eisenhower and his staff could use the critical forecasts. Finally, we overview the current state of the weather-forecasting enterprise, the current challenges of interest to decision analysts, and what this means for decision analysts seeking opportunities to help the weather enterprise improve forecasts and to help operational decision makers extract more value from modern weather forecasts.

scholarly journals Evaluación comparativa multifuncional de sistemas agrarios mediante AHP: Aplicación al olivar ecológico, integrado y convencional de Andalucía

2011 ◽  
Vol 5 (9) ◽  
pp. 27 ◽  
Author(s):  
Carlos Parra López ◽  
Javier Calatrava Requena ◽  
Tomás De Haro Giménez
Keyword(s):  
Decision Making ◽  
Farming Systems ◽  
Point Of View ◽  
Decision Makers ◽  
Analytic Hierarchy ◽  
Complex Decision Making ◽  
Olive Groves ◽  
Complex Decision ◽  
Hierarchy Process

Even though multifunctionality concept is reflected, implicit or explicitly, in the design of actual agrarian policies, its consideration when analysing and assessing farming systems is relatively limited in the scientific literature. Analytic Hierarchy Process (AHP) is proposed with this aim. AHP is a multicriteria discrete decision support technique that is used in complex decision making. This methodology is stated jointly with a proposed procedure to measure relative agreement among decision makers and uniformity of alternatives’ performances in group decision making. Finally AHP is implemented in the assessment of organic, integrated and conventional olive groves in Andalusia considering criteria of a different nature – economic, technical, sociocultural and environmental –. The final purpose is determining the more interesting growing techniques from a holistic point of view for all the society in the medium/long-term on the basis of knowledge of experts on olive.

Comparison of Risk Aversity for Two Utility Functions on ℝ2

2019 ◽  
Vol 23 (3) ◽  
pp. 555-560
Author(s):  
Yuji Yoshida ◽  
Keyword(s):  
Decision Making ◽  
Sufficient Conditions ◽  
Utility Functions ◽  
Decision Makers ◽  
The Other ◽  
Necessary Condition ◽  
Risk Averse ◽  
Two Dimensional ◽  
Arithmetic Means

Utility functions on two-dimensional regions are demonstrated for decision makers’ risk averse behavior by weighted quasi-arithmetic means. For two utility functions on two-dimensional regions, a concept is introduced that decision making with one utility is more risk averse than decision making with the other utility. A necessary condition and sufficient conditions for the concept are demonstrated by their utility functions.

scholarly journals Impact of Industry 4.0 on decision-making in an operational context

2021 ◽  
Vol 16 (4) ◽  
pp. 500-514
Author(s):  
F. Rosin ◽  
P. Forget ◽  
S. Lamouri ◽  
R. Pellerin
Keyword(s):  
Decision Making ◽  
Industry 4.0 ◽  
New Technologies ◽  
Production Systems ◽  
Point Of View ◽  
Decision Makers ◽  
Process Improvements ◽  
Proposed Model ◽  
Operational Systems ◽  
Decision Making Processes

The implementation of Industry 4.0 technologies suggests significant impacts on production systems productivity and decision-making process improvements. However, many manufacturers have difficulty determining to what extent these various technologies can reinforce the autonomy of teams and operational systems. This article addresses this issue by proposing a model describing different types of autonomy and the contribution of 4.0 technologies in the various steps of the decision-making processes. The model was confronted with a set of application cases from the literature. It emerges that new technologies' improvements are significant from a decision-making point of view and may eventually favor implementing new modes of autonomy. Decision-makers can rely on the proposed model to better understand the opportunities linked to the fusion of cybernetic, physical, and social spaces made possible by Industry 4.0.

scholarly journals ACHIEVING HIGH COMMITMENT IN AND OF SOURCING DECISIONS – A DECISION-MAKING PARADOX

2006 ◽  
Vol 35 (3) ◽  
Author(s):  
Björn Johansson Johansson
Keyword(s):  
Decision Making ◽  
Decision Process ◽  
Point Of View ◽  
High Potential ◽  
Decision Makers ◽  
Decision Making Process ◽  
Software Applications ◽  
Sourcing Decisions

This paper describes a sourcing decision process and how that process is done in order to achieve high commitment in and of sourcing decisions. It can be stated that it is important with high commitment in and of sourcing decisions for the process as well as the result to be successful. The study uses a decision-making process in a Swedish municipality to describe the importance of having high commitment and how high commitment can be achieved. The sourcing decision process was a decision-making process where the final result was an internal reorganisation in the municipality regarding hosting of software applications. From an outsourcing point of view this can be described as internal outsourcing. The structure of the hosting was before the decision highly decentralised. The objective and the goal of the decision were to centralise hosting of software applications. There was weak motivation for changing the structure and thereby low commitment among involved stakeholders at the start of the process. The case shows how the decision-makers conducted the decision-making process in order to increase commitment of the already taken decision. That the decision already was taken at the start of the process indicates that the decision could be described as a decision-making paradox. From the case it can be concluded that the decision-making process was successful and that the high commitment existing after the process indicates that the outcome of the decision will have high potential to be successful as well.

Goal programming optimization model under uncertainty and the critical areas characterization in humanitarian logistics management

2019 ◽  
Vol 9 (1) ◽  
pp. 82-107 ◽  
Author(s):  
Mario Chong ◽  
Juan G. Lazo Lazo ◽  
Maria Cristina Pereda ◽  
Juan Manuel Machuca De Pina
Keyword(s):  
Decision Making ◽  
Disaster Management ◽  
Low Income ◽  
Point Of View ◽  
Decision Makers ◽  
Humanitarian Crisis ◽  
Content Type ◽  
Critical Areas ◽  
Proposed Model ◽  
Wide Range

Purpose The purpose of this paper is to improve disaster management models, have an optimal distribution of assets, reduce human suffering in a crisis and find a good solution for warehouse locations, distribution points, inventory levels and costs, considering the uncertainty of a wide range of variables, to serve as a support model for decision making in real situations. Design/methodology/approach A model is developed based on the recent models. It includes structured and non-structured data (historical knowledge) from a humanitarian perspective. This model considers the uncertainty in a landslide and flood area and it is applied in a representative Peruvian city. Findings The proposed model can be used to determine humanitarian aid supply and its distribution with uncertainty, regarding the affected population and its resilience. This model presents a different point of view from the efficiency of the logistics perspective, to identify the level of trust between all the stakeholders (public, private and academic). The finding provides a new insight in disaster management to cover the gap between applied research and human behavior in crisis. Research limitations/implications In this study the access of reliable information is limited. Practical implications This paper provides an operation model with uncertainty in a humanitarian crisis and a decision-making tool with some recommendation for further public policies. Originality/value This study presents a model for decision makers in a low-income zone and highlights the importance of preparedness in the humanitarian system. This paper expands the discussion of how the mathematical models and human behaviors interact with different perspectives in a humanitarian crisis.

Pointing to Priorities for Multiple Criteria Decision Making — The Case of a MIS-Based Project in China

2016 ◽  
Vol 15 (03) ◽  
pp. 683-702 ◽  
Author(s):  
Shizhong Ai ◽  
Rong Du ◽  
Cathal M. Brugha ◽  
Hongpeng Wang
Keyword(s):  
Decision Making ◽  
Opinion Mining ◽  
Multiple Criteria Decision Making ◽  
Multiple Criteria ◽  
Point Of View ◽  
Decision Makers ◽  
Shaanxi Province ◽  
Management Innovation ◽  
Strategic Direction ◽  
Research Questions

The priority-pointing procedure (PPP) is a systemic thinking-based approach for multiple criteria decision making (MCDM). PPP helps to synthesize responses to open-ended questions about the strategic direction that an organization should take. We applied PPP to a Management Information Systems-based Management Innovation in Fiscal Department (MIS-MIFD) project in Shaanxi Provincial Government’s Department of Fiscal Affairs. PPP surveys were conducted in five regions in Shaanxi Province using the same research questions. The combination of all five surveys into one survey for Shaanxi Province showed that the results in each county can be compared to identify their particular different problems. The analysis shows that PPP can help to obtain balanced integrated solutions when solving strategic direction problems in management and give practical implications. From a scientific research point of view, this study has provided unique support for the underlying nomological theory on which PPP is based. The findings of this study indicate that coherent groups of decision-makers do have a “collective mind”, and this can be accessed using a nomological procedure. This research can add knowledge to the understanding of nomological theory and extend the application of it in opinion mining and decision making in the context of IT.

Conclusion

2019 ◽  
pp. 187-196
Author(s):  
Allison D. Redlich ◽  
Vanessa A. Edkins
Keyword(s):  
Decision Making ◽  
Justice System ◽  
Plea Bargaining ◽  
Decision Makers ◽  
Future Research ◽  
Next Generation ◽  
Legal Decision ◽  
Current State ◽  
The Law

This volume has gathered together research from multiple disciplines, integrated into one overall picture of the current state of our justice system. The system of pleas that defendants inhabit means that while plea bargaining is thoroughly entrenched in our present-day notion of justice, the law has not caught up. In this concluding chapter of the book, our goal is twofold. First we highlight two major themes that cut across the chapters. Although there were many possible themes to choose among, we focus on Innocence (with a capital ‘I’) and plea decision-making. Second, we summarize chapter authors’ suggestions for future research—that is, to delineate what the next generation of plea-related scholarship may look like, so that scholars and legal decision-makers alike may continue to move forward.

scholarly journals Urban Planning and Climate Change Mitigation

2015 ◽  
pp. 210-229 ◽  
Author(s):  
Amar Bennadji ◽  
Richard Laing ◽  
David Gray
Keyword(s):  
Climate Change ◽  
Decision Making ◽  
Co2 Emissions ◽  
Co2 Emission ◽  
Decision Makers ◽  
Physical Models ◽  
Transport Modelling ◽  
Current State ◽  
Change Mitigation

The aim of the research described in this chapter is to explore the use of intelligent virtual transport modelling within the context of a case study involving the development of a university estate. Through the application of visualisation techniques, the study was able to explore how such techniques can lead to enlightenment of potential solutions, whilst simultaneously demonstrating the effects of design solutions on CO2 emissions. Such an approach leads to a better understanding of the transport complexity from the perspective of potential clients and users. Although images and physical models of the case study were appreciated by stakeholders, these did not provide more information than their current state and could not help in making funded decision by decision making community. Animated data, including calculated predictions of the effect of design on daily vehicles, human traffic, and CO2 emission, enlivened and illuminated the designed situation, and allowed decision makers to appreciate the real current and potential challenges.

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