The Cognitive Process of Decision Making

2009 ◽  
pp. 237-250
Author(s):  
Yingxu Wang ◽  
Guenther Ruhe
Keyword(s):  
Decision Making ◽  
Decision Process ◽  
Cognitive Process ◽  
Cartesian Product ◽  
Decision Strategies ◽  
Cognitive Informatics ◽  
Wide Range ◽  
Rigorous Description ◽  
Science Management ◽  
Cognitive Decision

Decision making is one of the basic cognitive processes of human behaviors by which a preferred option or a course of actions is chosen from among a set of alternatives based on certain criteria. Decision theories are widely applied in many disciplines encompassing cognitive informatics, computer science, management science, economics, sociology, psychology, political science, and statistics. A number of decision strategies have been proposed from different angles and application domains such as the maximum expected utility and Bayesian method. However, there is still a lack of a fundamental and mathematical decision model and a rigorous cognitive process for decision making. This article presents a fundamental cognitive decision making process and its mathematical model, which is described as a sequence of Cartesian-product based selections. A rigorous description of the decision process in real-time process algebra (RTPA) is provided. Real-world decisions are perceived as a repetitive application of the fundamental cognitive process. The result shows that all categories of decision strategies fit in the formally described decision process. The cognitive process of decision making may be applied in a wide range of decision-based systems such as cognitive informatics, software agent systems, expert systems, and decision support systems.

The Cognitive Process of Decision Making

2011 ◽  
pp. 1452-1464
Author(s):  
Yingxu Wang ◽  
Guenther Ruhe
Keyword(s):  
Decision Making ◽  
Decision Process ◽  
Cognitive Process ◽  
Cartesian Product ◽  
Decision Strategies ◽  
Cognitive Informatics ◽  
Wide Range ◽  
Rigorous Description ◽  
Science Management ◽  
Cognitive Decision

Decision making is one of the basic cognitive processes of human behaviors by which a preferred option or a course of actions is chosen from among a set of alternatives based on certain criteria. Decision theories are widely applied in many disciplines encompassing cognitive informatics, computer science, management science, economics, sociology, psychology, political science, and statistics. A number of decision strategies have been proposed from different angles and application domains such as the maximum expected utility and Bayesian method. However, there is still a lack of a fundamental and mathematical decision model and a rigorous cognitive process for decision making. This article presents a fundamental cognitive decision making process and its mathematical model, which is described as a sequence of Cartesian-product based selections. A rigorous description of the decision process in real-time process algebra (RTPA) is provided. Real-world decisions are perceived as a repetitive application of the fundamental cognitive process. The result shows that all categories of decision strategies fit in the formally described decision process. The cognitive process of decision making may be applied in a wide range of decision-based systems such as cognitive informatics, software agent systems, expert systems, and decision support systems.

The Cognitive Process of Decision Making

2011 ◽  
pp. 130-141 ◽  
Author(s):  
Yingxu Wang ◽  
Guenther Ruhe
Keyword(s):  
Decision Making ◽  
Decision Process ◽  
Cognitive Process ◽  
Cartesian Product ◽  
Decision Strategies ◽  
Cognitive Informatics ◽  
Wide Range ◽  
Rigorous Description ◽  
Science Management ◽  
Cognitive Decision

Decision making is one of the basic cognitive processes of human behaviors by which a preferred option or a course of actions is chosen from among a set of alternatives based on certain criteria. Decision theories are widely applied in many disciplines encompassing cognitive informatics, computer science, management science, economics, sociology, psychology, political science, and statistics. A number of decision strategies have been proposed from different angles and application domains, such as the maximum expected utility and Bayesian method. However, there is still a lack of a fundamental and mathematical decision model and a rigorous cognitive process for decision making. This chapter presents a fundamental cognitive decision making process and its mathematical model, which is described as a sequence of Cartesian-product-based selections. A rigorous description of the decision process in Real-Time Process Algebra (RTPA) is provided. Real-world decisions are perceived as a repetitive application of the fundamental cognitive process. The result shows that all categories of decision strategies fit in the formally described decision process. The cognitive process of decision making may be applied in a wide range of decision-based systems, such as cognitive informatics, software agent systems, expert systems, and decision support systems.

An Exploration of Five Stages in Faculty Retirement Decision Making

2020 ◽  
pp. 193672442098298
Author(s):  
Beverlee B. Anderson ◽  
Jennifer Jeffries ◽  
Janet McDaniel
Keyword(s):  
Decision Making ◽  
Qualitative Research ◽  
Decision Process ◽  
Process Model ◽  
Working Life ◽  
Substantial Portion ◽  
Retirement Decision ◽  
Faculty Retirement ◽  
Cognitive Decision

Humans make thousands of decisions each day. Most of the decisions we make are trivial or relatively unimportant in possible consequences. However, there are a few decisions we make in life that are lifechanging; one of those is the decision to retire from the professoriate. Voluntarily deciding to leave a profession where one has spent a substantial portion of one’s working life is one of life’s major decisions. This qualitative research looks at the various influences, actions, and feelings through the process of deciding to retire. Using a five-stage cognitive decision-process model as a framework, this paper reports on the reflections of 20 recent retirees over the five stages of the decision process from when first seriously considering the decision to postretirement activities and feelings. The results show that while all faculty progressed through the five stages, the timeframe, influences, feelings, and actions were unique to each individual.

scholarly journals The Ethics Of Crisis Management: A Juxtaposition Of Examples In Cognitive-Decision Making And Framing In Corporate Crisis Management

2011 ◽  
Vol 3 (2) ◽  
Author(s):  
Thain Y. Hagan ◽  
Shelby Jo Long
Keyword(s):  
Decision Making ◽  
Crisis Management ◽  
Cognitive Process ◽  
Ethical Decision ◽  
Ethical Decision Making ◽  
Daily Basis ◽  
Font Size ◽  
Good Decision ◽  
Cognitive Decision ◽  
Corporate Crisis

<p class="MsoNormal" style="text-align: justify; margin: 0in 0.5in 0pt;"><span style="font-size: 10pt;"><span style="font-family: Times New Roman;">Ethical decision-making is a cognitive process that must be effectively managed within crisis situations that face corporations on a daily basis.<span style="mso-spacerun: yes;">&nbsp; </span>Two juxtaposed cases are presented that help to define good decision-making in crisis management and bad decision-making.<span style="mso-spacerun: yes;">&nbsp; </span>The two corporations used as case studies are Malden Mills and Enron.</span></span></p>

Understanding Decision Making During a Crisis: An Axiomatic Model of Cognitive Decision Choices

2015 ◽  
Vol 56 (2) ◽  
pp. 233-248 ◽  
Author(s):  
Tulika Varma
Keyword(s):  
Decision Making ◽  
Financial Reporting ◽  
Cartesian Product ◽  
Complex Problem ◽  
Complex Problem Solving ◽  
Strategy Process ◽  
Decision Choices ◽  
Cognitive Decision ◽  
Problem Solving Process ◽  
The Impact

This study investigated factors that influence the strategy process during a crisis within the chemical industry. It examined key organizational, environmental, and management factors—comprehensiveness, formalization, politicization, impact of the crisis, financial reporting—for their role in the strategy process during a crisis using regression analysis. The findings indicate that the strategy process during a crisis is influenced by several factors; specifically, politicization, formalization of the decision-making process, financial reporting, and the impact of the crisis. This study proposes an axiomatic model of cognitive decision making during a crisis. It suggests that decision making during a crisis is a complex problem-solving process contingent on several variables, which can be arranged on a scale with the proscriptive variables (variables that impede or hinder accommodation) at one end of the scale and supportive variables (variables that help advocate an organization’s position) at the other end of the scale, which when cross-joined with the advocacy/accommodation continuum yield a Cartesian product of communication options. Other implications and future areas for research are suggested.

scholarly journals An Architecture for Agent’s Risk Perception

2013 ◽  
Vol 2 (2) ◽  
pp. 75-85
Author(s):  
Nuno Trindade ◽  
Luis Antunes
Keyword(s):  
Decision Making ◽  
Risk Perception ◽  
Decision Process ◽  
Cognitive Process ◽  
Associated Factors ◽  
Decision Making Process ◽  
Critical Issues ◽  
Risk Event

One of the critical issues in agent’s risk decisions is perception, specially because it assumes a key role on the decision process. This subject has not received enough attention in agent’s modelling literature. Until now, the main focus has been on the decision making process of agent’s and consecutive interpretation of their behaviours. In this sense, risk literature needs to focus on perception. It is through this cognitive process that all relation between individuals and the risk event will be recognized. In this sense, agent’s make decisions about a specific type of risk by taking into account their own perception. To help understanding how perception works, it became necessary to design the mechanisms and consequent context dimensions involved on it. Following this objective, we defined an architecture explaining this cognitive process. An architecture for agents’ risk perception complemented by the associated factors of context dimensions, in order to understand this subjective process, that happen in our minds  .

Deconstructing management fad adoption: towards a conceptual model

2015 ◽  
Vol 23 (2) ◽  
pp. 302-319 ◽  
Author(s):  
Pamela Mathews
Keyword(s):  
Decision Making ◽  
Conceptual Model ◽  
Cognitive Process ◽  
Theory And Practice ◽  
Valuable Contribution ◽  
Content Type ◽  
Academic Literature ◽  
New Ideas ◽  
Adoption Decisions ◽  
Cognitive Decision

Purpose – The purpose of this paper is to propose that adoption of new ideas is a more involved cognitive process than has been recognised and this paper seeks to redress the trivialisation of ideas as emerging management ideas (“fads”). The embracing of “fads” for performance improvement and competitive advantage has received considerable attention in the academic literature, resulting in a rather one-sided view. Design/methodology/approach – Cognitive decision-making, evidence-based management and complexity theory are examined to illustrate cognitive process, skills and experiences used when making decisions and several propositions are derived from these ideas. Findings – An conceptual model of “fad” adoption, integrating the ideas and propositions is presented. This model provides a more pragmatic examination of “fad” adoption decisions and encourages an in depth consideration of their introduction. The model offers a more sophisticated, focused tool for examining the adoption of new management ideas and provides a springboard from which more detailed, integrated models can be developed, and hopefully will stimulate discussion. Implications for theory and practice are also considered. Originality/value – Examination of the literature on management “fads” revealed significant material that focused on the negative aspects of “fad” adoption, but an absence of material that examined how manager’s made their adoption decisions. This paper, therefore, provides a valuable contribution to both theory and practice by examining factors which contribute to how and why management decisions to adopt “fads” are made and develops a model to illustrate how these are integrated to contribute to the process of decision-making.

Understanding the side effects of glucocorticoid therapy: shining a light on a drug everyone thinks they know

2012 ◽  
Vol 71 (11) ◽  
pp. 1761-1764 ◽  
Author(s):  
William G Dixon ◽  
Nick Bansback
Keyword(s):  
Decision Making ◽  
Side Effects ◽  
Decision Process ◽  
Future Research ◽  
Decision Making Process ◽  
Wide Range ◽  
Value Judgements ◽  
The Many ◽  
The Relationship ◽  
Higher Doses

Glucocorticoids are one of the most frequently prescribed therapies in rheumatology, a reflection of their effectiveness as a powerful anti-inflammatory drug. Glucocorticoids are also, however, associated with a wide range of adverse events, particularly at higher doses. To make appropriate decisions, doctors and patients need to weigh these benefits against the potential harms. This article describes the many uncertainties which make informed prescribing difficult. We lack knowledge, for example, on the magnitude of risk, the relationship to dose and duration, and what happens to risk on stopping therapy. Beyond safety, we describe how patients may lack understanding of the nature of the benefits and harms, and how to incorporate value judgements which are crucial to the decision making process. We conclude by exploring how future research might fill these knowledge gaps to enable a better informed decision process.

scholarly journals An Analysis of Job Change Decision Using a Hybrid Mcdm Method: A Comparative Analysis

2016 ◽  
Vol 6 (3) ◽  
pp. 60 ◽  
Author(s):  
V. Alpagut Yavuz
Keyword(s):  
Decision Making ◽  
Decision Process ◽  
Work Performance ◽  
Fuzzy Ahp ◽  
Hybrid Approach ◽  
Fuzzy Topsis ◽  
Comparison Analysis ◽  
Topsis Method ◽  
Job Change ◽  
Wide Range

<p>This paper investigates the decision process relating to job change which mostly depends on individual’s expectations about a job. Failing to fully understand the factors shaping these expectations leads to dissatisfaction and poor work performance; which produces unwanted consequences for both individuals and businesses. Since job change decision is defined as a multiple criteria decision making (MCDM) problem. This study uses a hybrid approach as a methodology combining fuzzy Analytic Hierarchy Analysis (AHP) and fuzzy TOPSIS (Technique for Order of Preference by Similarity to Ideal Solution) for the job change decision of a faculty working in a university. In this approach, while the use of fuzzy AHP method helps determine the weight of the decision criteria; fuzzy TOPSIS enables the evaluation of the alternatives. In order to investigate the methods’ applicability in multiple dimensions of decision problem space, a comparison analysis is conducted with the three methodologies; fuzzy AHP, fuzzy TOPSIS and the proposed hybrid approach (named fuzzy AHP-TOPSIS) in the same decision making context. Four factors are considered for the comparison: adequacy to changes of criteria or alternatives; agility in the decision process; computational complexity; and the number of criteria and alternatives. Analysis shows that three methods achieve the same results. This verifies their robustness and indicates that MCDM methods are viable in job change decisions. However; comparison analysis shows that based on the four factors; the proposed hybrid fuzzy AHP-TOPSIS method provide more consistent results than fuzzy AHP and fuzzy TOPSIS methods. Thus the proposed hybrid fuzzy AHP-TOPSIS method is more appropriate to use on a wide range of job change decision problems.</p>

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