Decision Economics Complexity Of Decisions And Decisions For Complexity

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Decision Economics: Complexity of Decisions and Decisions for Complexity

Author : Edgardo Bucciarelli
Publisher : Springer Nature
ISBN 13 : 3030382273
Total Pages : 334 pages
Book Rating : 4.0/5 (33 download)

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Book Synopsis Decision Economics: Complexity of Decisions and Decisions for Complexity by : Edgardo Bucciarelli

Download or read book Decision Economics: Complexity of Decisions and Decisions for Complexity written by Edgardo Bucciarelli and published by Springer Nature. This book was released on 2020-02-07 with total page 334 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is based on the International Conference on Decision Economics (DECON 2019). Highlighting the fact that important decision-making takes place in a range of critical subject areas and research fields, including economics, finance, information systems, psychology, small and international business, management, operations, and production, the book focuses on analytics as an emerging synthesis of sophisticated methodology and large data systems used to guide economic decision-making in an increasingly complex business environment. DECON 2019 was organised by the University of Chieti-Pescara (Italy), the National Chengchi University of Taipei (Taiwan), and the University of Salamanca (Spain), and was held at the Escuela politécnica Superior de Ávila, Spain, from 26th to 28th June, 2019. Sponsored by IEEE Systems Man and Cybernetics Society, Spain Section Chapter, and IEEE Spain Section (Technical Co-Sponsor), IBM, Indra, Viewnext, Global Exchange, AEPIA-and-APPIA, with the funding supporting of the Junta de Castilla y León, Spain (ID: SA267P18-Project co-financed with FEDER funds)

Decision Economics. Designs, Models, and Techniques for Boundedly Rational Decisions

Author : Edgardo Bucciarelli
Publisher : Springer
ISBN 13 : 3319996983
Total Pages : 179 pages
Book Rating : 4.3/5 (199 download)

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Book Synopsis Decision Economics. Designs, Models, and Techniques for Boundedly Rational Decisions by : Edgardo Bucciarelli

Download or read book Decision Economics. Designs, Models, and Techniques for Boundedly Rational Decisions written by Edgardo Bucciarelli and published by Springer. This book was released on 2018-12-28 with total page 179 pages. Available in PDF, EPUB and Kindle. Book excerpt: The special session on Decision Economics (DECON) is a scientific forum held annually, which is focused on sharing ideas, projects, research results, models, and experiences associated with the complexity of behavioural decision processes and socio‐economic phenomena. In 2018, DECON was held at Campus Tecnológico de la Fábrica de Armas, University of Castilla-La Mancha, Toledo, Spain, as part of the 15th International Conference on Distributed Computing and Artificial Intelligence. For the third consecutive year, this book have drawn inspiration from Herbert A. Simon’s interdisciplinary legacy and, in particular, is devoted to designs, models, and techniques for boundedly rational decisions, involving several fields of study and expertise. It is worth noting that the recognition of relevant decision‐making takes place in a range of critical subject areas and research fields, including economics, finance, information systems, small and international business management, operations, and production. Therefore, decision‐making issues are of fundamental importance in all branches of economics addressed with different methodological approaches. As a matter of fact, the study of decision‐making has become the focus of intense research efforts, both theoretical and applied, forming a veritable bridge between theory and practice as well as science and business organisations, whose pillars are based on insightful cutting‐edge experimental, behavioural, and computational approaches on the one hand, and celebrating the value of science as well as the close relationship between economics and complexity on the other. In this respect, the international scientific community acknowledges Herbert A. Simon’s research endeavours to understand the processes involved in economic decision‐making and their implications for the advancement of economic professions. Within the field of decision‐making, indeed, Simon has become a mainstay of bounded rationality and satisficing. His rejection of the standard (unrealistic) decision‐making models adopted by neoclassical economists inspired social scientists worldwide with the purpose to develop research programmes aimed at studying decision‐making empirically, experimentally, and computationally. The main achievements concern decision‐making for individuals, firms, markets, governments, institutions, and, last but not least, science and research. This book of selected papers tackles these issues that Simon broached in a professional career spanning more than sixty years. The Editors of this book dedicated it to Herb.

Decision Economics: In the Tradition of Herbert A. Simon's Heritage

Author : Edgardo Bucciarelli
Publisher : Springer
ISBN 13 : 3319608827
Total Pages : 143 pages
Book Rating : 4.3/5 (196 download)

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Book Synopsis Decision Economics: In the Tradition of Herbert A. Simon's Heritage by : Edgardo Bucciarelli

Download or read book Decision Economics: In the Tradition of Herbert A. Simon's Heritage written by Edgardo Bucciarelli and published by Springer. This book was released on 2017-06-13 with total page 143 pages. Available in PDF, EPUB and Kindle. Book excerpt: The special session on Decision Economics (DECON) is a scientific forum held annually and intended to share ideas, projects, research results, models and experiences associated with the complexity of behavioural decision processes and socio‐economic phenomena. DECON 2017 was held at the Polytechnic of Porto, ISEP, Portugal, as part of the 14th International Conference on Distributed Computing and Artificial Intelligence. For the second consecutive year, the Editors of this book have drawn inspiration from Herbert A. Simon’s immense body of work and argue that Simon precipitated something akin to a revolution in microeconomics focused on the concept of decision‐making. Further, it is worth noting that the recognition of relevant decision‐making takes place in a range of critical subject areas and research fields, including economics, finance, information systems, small and international business management, operations, and production. Therefore, decision‐making issues are of fundamental importance in all branches of economics addressed both deductively and inductively. Not surprisingly, the study of decision‐making has seen growing empirical research efforts in the economic literature over the last sixty years and, more recently, a variety of insightful cutting‐edge experimental, behavioural and computational approaches. Additionally, the awareness regarding generalizations and reductions to express economic concepts has led, on the one hand, to an increasing risk of spreading the language of mathematics as a rhetorical tool and, on the other hand, to an oversimplification and overlooking of some crucial details, especially when it comes to human decisions and, hence, economic behaviour. That awareness, however, has helped to produce an extraordinary volume of empirical research aimed at discovering how economic agents cope with complex decisions. In this sense, the international scientific community acknowledges Herbert A. Simon’s research endeavours to understand the processes involved in economic decision‐making and their implications for the advancement of economic professions. Within the field of decision‐making, indeed, Simon’s rejection of the standard decision‐making models used in neoclassical economics inspired social scientists worldwide to develop research programmes in order to study decision‐making empirically. The main achievements concern decision‐making for individuals, firms, markets, governments, institutions, and, last but not least, science and research.

Decision Theory and Choices: a Complexity Approach

Author : Marisa Faggini
Publisher : Springer Science & Business Media
ISBN 13 : 8847017785
Total Pages : 251 pages
Book Rating : 4.8/5 (47 download)

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Book Synopsis Decision Theory and Choices: a Complexity Approach by : Marisa Faggini

Download or read book Decision Theory and Choices: a Complexity Approach written by Marisa Faggini and published by Springer Science & Business Media. This book was released on 2010-12-28 with total page 251 pages. Available in PDF, EPUB and Kindle. Book excerpt: In economics agents are assumed to choose on the basis of rational calculations aimed at the maximization of their pleasure or profit. Formally, agents are said to manifest transitive and consistent preferences in attempting to maximize their utility in the presence of several constraints. They operate according to the choice imperative: given a set of alternatives, choose the best. This imperative works well in a static and simplistic framework, but it may fail or vary when 'the best' is changing continuously. This approach has been questioned by a descriptive approach that springing from the complexity theory tries to give a scientific basis to the way in which individuals really choose, showing that those models of human nature is routinely falsified by experiments since people are neither selfish nor rational. Thus inductive rules of thumb are usually implemented in order to make decisions in the presence of incomplete and heterogeneous information sets.

Successful Decision-making

Author : Rudolf Grünig
Publisher : Springer Science & Business Media
ISBN 13 : 3642008542
Total Pages : 246 pages
Book Rating : 4.6/5 (42 download)

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Book Synopsis Successful Decision-making by : Rudolf Grünig

Download or read book Successful Decision-making written by Rudolf Grünig and published by Springer Science & Business Media. This book was released on 2009-09-01 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt: Unlike other publications on decision making, the book focuses on discovering the problem, analyzing it and on developing and assessing solution options. One whole chapter describes a case study. It illustrates how the proposed decision making procedure is used in practice. Executives get an approach to systematically and successfully solving complex problems.

Tackling Complexity

Author : Gilbert Probst
Publisher : Routledge
ISBN 13 : 1351287621
Total Pages : 172 pages
Book Rating : 4.3/5 (512 download)

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Book Synopsis Tackling Complexity by : Gilbert Probst

Download or read book Tackling Complexity written by Gilbert Probst and published by Routledge. This book was released on 2017-09-08 with total page 172 pages. Available in PDF, EPUB and Kindle. Book excerpt: Our socio-economic systems continue to grow and evolve. We need to acknowledge that, consequently, our decisions often fail – they are ineffective and create unexpected side effects. The speed of execution is increasing constantly and markets and systems respond almost immediately, making decision-making challenging. There is little or no room for failure.This important new book analyses real world strategy and policy challenges, addressing the interconnectedness of the markets/systems we live in. It provides a step-by-step approach using systems thinking to solve complex problems in socio-political as well as business environment. It proposes a technique with which to better understand the problems and the context in which they arise, and tools to directly inform each step of the decision-making process. The book explores the main innovation that systemic thinking introduces – the emphasis on defining the problem creating system, which is made up of interacting parts, rather than prioritizing events that need immediate fixing.The case studies, examples and the approach proposed can be used to better understand reality and its complexity, and to integrate stakeholders for a better solution. Practically, it can be used to identify problems, analyse their boundaries, design interventions, forecast and measure their expected impacts, implement them and monitor and evaluate their success/failure. The book touches upon global issues related to policy making and strategic management, as well as issues related to sustainable development for both the public and private sector.

Choice, Complexity and Ignorance

Author : Brian J. Loasby
Publisher : CUP Archive
ISBN 13 : 9780521210652
Total Pages : 266 pages
Book Rating : 4.2/5 (16 download)

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Book Synopsis Choice, Complexity and Ignorance by : Brian J. Loasby

Download or read book Choice, Complexity and Ignorance written by Brian J. Loasby and published by CUP Archive. This book was released on 1976-04-15 with total page 266 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Complexity and Geographical Economics

Author : Pasquale Commendatore
Publisher : Springer
ISBN 13 : 3319128051
Total Pages : 377 pages
Book Rating : 4.3/5 (191 download)

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Book Synopsis Complexity and Geographical Economics by : Pasquale Commendatore

Download or read book Complexity and Geographical Economics written by Pasquale Commendatore and published by Springer. This book was released on 2015-02-17 with total page 377 pages. Available in PDF, EPUB and Kindle. Book excerpt: The uneven geographical distribution of economic activities is a huge challenge worldwide and also for the European Union. In Krugman’s New Economic Geography economic systems have a simple spatial structure. This book shows that more sophisticated models should visualise the EU as an evolving trade network with a specific topology and different aggregation levels. At the highest level, economic geography models give a bird eye’s view of spatial dynamics. At a medium level, institutions shape the economy and the structure of (financial and labour) markets. At the lowest level, individual decisions interact with the economic, social and institutional environment; the focus is on firms’ decision on location and innovation. Such multilevel models exhibit complex dynamic patterns – path dependence, cumulative causation, hysteresis – on a network structure; and specific analytic tools are necessary for studying strategic interaction, heterogeneity and nonlinearities.

Complexity and the Art of Public Policy

Author : David Colander
Publisher : Princeton University Press
ISBN 13 : 0691169136
Total Pages : 320 pages
Book Rating : 4.6/5 (911 download)

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Book Synopsis Complexity and the Art of Public Policy by : David Colander

Download or read book Complexity and the Art of Public Policy written by David Colander and published by Princeton University Press. This book was released on 2016-02-16 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt: How ideas in complexity can be used to develop more effective public policy Complexity science—made possible by modern analytical and computational advances—is changing the way we think about social systems and social theory. Unfortunately, economists' policy models have not kept up and are stuck in either a market fundamentalist or government control narrative. While these standard narratives are useful in some cases, they are damaging in others, directing thinking away from creative, innovative policy solutions. Complexity and the Art of Public Policy outlines a new, more flexible policy narrative, which envisions society as a complex evolving system that is uncontrollable but can be influenced. David Colander and Roland Kupers describe how economists and society became locked into the current policy framework, and lay out fresh alternatives for framing policy questions. Offering original solutions to stubborn problems, the complexity narrative builds on broader philosophical traditions, such as those in the work of John Stuart Mill, to suggest initiatives that the authors call "activist laissez-faire" policies. Colander and Kupers develop innovative bottom-up solutions that, through new institutional structures such as for-benefit corporations, channel individuals’ social instincts into solving societal problems, making profits a tool for change rather than a goal. They argue that a central role for government in this complexity framework is to foster an ecostructure within which diverse forms of social entrepreneurship can emerge and blossom.

Smart Economic Decision-Making in a Complex World

Author : Morris Altman
Publisher : Academic Press
ISBN 13 : 0128114614
Total Pages : 300 pages
Book Rating : 4.1/5 (281 download)

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Book Synopsis Smart Economic Decision-Making in a Complex World by : Morris Altman

Download or read book Smart Economic Decision-Making in a Complex World written by Morris Altman and published by Academic Press. This book was released on 2020-06-09 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt: Smart Economic Decision-Making in a Complex World is a fresh and reality-based perspective on decision-making with significant implications for analysis, self-understanding and policy. The book examines the conditions under which smart people generate outcomes that improve their place of work, their household and society. Within this work, the curious reader will find interesting open questions on many fascinating areas of current economic debate, including, the role of realistic assumptions robust model building, understanding how and when non-neoclassical behavior is best practice, why the assumption of smart decision-makers is best to understand and explain our economies and societies, and under what conditions individuals can make the best possible choices for themselves and society at large. Additional sections cover when and how efficiency is achieved, why inefficiencies can persist, when and how consumer welfare is maximized, and what benchmarks should be used to determine efficiency and rationality. Makes the case for 'smart and rational' decision-making as a context-dependent rational process that is framed by socio-cultural environment and conditioned by institutional capacities Explains how incorporation of the 'smart' decision-maker concept into economic thought improves our understanding of how, why and when people generate certain outcomes Explores how economic efficiency can be achieved, individual preferences realized, and social welfare maximized through the use of 'smart and rational' approaches

Complex Decision Making

Author : Hassan Qudrat-Ullah
Publisher : Springer
ISBN 13 : 3540736654
Total Pages : 337 pages
Book Rating : 4.5/5 (47 download)

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Book Synopsis Complex Decision Making by : Hassan Qudrat-Ullah

Download or read book Complex Decision Making written by Hassan Qudrat-Ullah and published by Springer. This book was released on 2007-09-22 with total page 337 pages. Available in PDF, EPUB and Kindle. Book excerpt: Today's ever more complex world creates challenges for decision makers. This volume reviews the principles underlying complex decision making, the handling of uncertainties in dynamic environments, and the various modeling approaches. Beginning with a discussion of the underlying concepts, theories and empirical evidence, the book gives you a range of practical tools and techniques for decision making in complex environments and systems.

The Paradox of Choice

Author : Barry Schwartz
Publisher : Harper Collins
ISBN 13 : 0061748994
Total Pages : 308 pages
Book Rating : 4.0/5 (617 download)

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Book Synopsis The Paradox of Choice by : Barry Schwartz

Download or read book The Paradox of Choice written by Barry Schwartz and published by Harper Collins. This book was released on 2009-10-13 with total page 308 pages. Available in PDF, EPUB and Kindle. Book excerpt: Whether we're buying a pair of jeans, ordering a cup of coffee, selecting a long-distance carrier, applying to college, choosing a doctor, or setting up a 401(k), everyday decisions—both big and small—have become increasingly complex due to the overwhelming abundance of choice with which we are presented. As Americans, we assume that more choice means better options and greater satisfaction. But beware of excessive choice: choice overload can make you question the decisions you make before you even make them, it can set you up for unrealistically high expectations, and it can make you blame yourself for any and all failures. In the long run, this can lead to decision-making paralysis, anxiety, and perpetual stress. And, in a culture that tells us that there is no excuse for falling short of perfection when your options are limitless, too much choice can lead to clinical depression. In The Paradox of Choice, Barry Schwartz explains at what point choice—the hallmark of individual freedom and self-determination that we so cherish—becomes detrimental to our psychological and emotional well-being. In accessible, engaging, and anecdotal prose, Schwartz shows how the dramatic explosion in choice—from the mundane to the profound challenges of balancing career, family, and individual needs—has paradoxically become a problem instead of a solution. Schwartz also shows how our obsession with choice encourages us to seek that which makes us feel worse. By synthesizing current research in the social sciences, Schwartz makes the counter intuitive case that eliminating choices can greatly reduce the stress, anxiety, and busyness of our lives. He offers eleven practical steps on how to limit choices to a manageable number, have the discipline to focus on those that are important and ignore the rest, and ultimately derive greater satisfaction from the choices you have to make.

Decision Economics: Minds, Machines, and their Society

Author : Edgardo Bucciarelli
Publisher : Springer Nature
ISBN 13 : 3030755835
Total Pages : 287 pages
Book Rating : 4.0/5 (37 download)

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Book Synopsis Decision Economics: Minds, Machines, and their Society by : Edgardo Bucciarelli

Download or read book Decision Economics: Minds, Machines, and their Society written by Edgardo Bucciarelli and published by Springer Nature. This book was released on 2021-08-16 with total page 287 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is the result of a multi-year research project led and sponsored by the University of Chieti-Pescara, National Chengchi University, University of Salamanca, and Osaka University. It is the fifth volume to emerge from that international project, held under the aegis of the United Nations Academic Impact in 2020. All the essays in this volume were (virtually) discussed at the University of L’Aquila―as the venue of the 2nd International Conference on Decision Economics, a three-day global gathering of approximately one hundred scholars and practitioners—and were subjected to thorough peer review by leading experts in the field. The essays reflect the extent, diversity, and richness of several research areas, both normative and descriptive, and are an invaluable resource for graduate-level and PhD students, academics, researchers, policymakers and other professionals, especially in the social and cognitive sciences. Given its interdisciplinary scope, the book subsequently delivers new approaches on how to contribute to the future of economics, providing alternative explanations for various socio-economic issues such as computable humanities; cognitive, behavioural, and experimental perspectives in economics; data analysis and machine learning as well as research areas at the intersection of computer science, artificial intelligence, mathematics, and statistics; agent-based modelling and the related. The editors are grateful to the scientific committee for its continuous support throughout the research project as well as to the many participants for their insightful comments and always probing questions. In any case, the collaboration involved in the project extends far beyond the group of authors published in this volume and is reflected in the quality of the essays published over the years.

Wharton on Making Decisions

Author : Stephen J. Hoch
Publisher : John Wiley & Sons Incorporated
ISBN 13 : 9780471382478
Total Pages : 339 pages
Book Rating : 4.3/5 (824 download)

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Book Synopsis Wharton on Making Decisions by : Stephen J. Hoch

Download or read book Wharton on Making Decisions written by Stephen J. Hoch and published by John Wiley & Sons Incorporated. This book was released on 2001-03-28 with total page 339 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Wharton on Making Decisions provides a unique blend of theory and practical experience. The authors' insights are at many times humorous, always instructive, and definitely thought provoking. This book should be recommended reading for decision makers in today's fast-moving world where alternative choices are increasing in number, complexity, and importance."-Arthur D. Collins Jr., President and COO, Medtronic, Inc. "This is a superb book that provides valuable insights for managers at all levels. No matter how many critical decisions we make, it is useful to be reminded of the intricacies of the process. Wharton on Making Decisions does just that."-Rakesh Gangwal, President and CEO, U.S. Airways "Wharton on Making Decisions takes a thorough look at the hard and soft sides of decision making-the intuitive as well as the analytical. With the frenetic pace and complexities of decision making today, this is reading that no manager should miss."-Robert S. Morrison, Chairman, President, and CEO, The Quaker Oats Company "The depth and breadth of the Wharton collection will help establish the case for the decision sciences to become a new major field of undergraduate and graduate studies at many universities (including my own at Harvard). Thanks, Wharton!" -Howard Raiffa, Frank P. Ramsey Professor of Managerial Economics Emeritus, Harvard Business School "As managers, we would be pretty disappointed if someone could give us our batting average on the decisions we make. I have no doubt this book can improve your average."-Jean-Pierre Rosso, Chairman, CNH Global N.V. "Wharton on Making Decisions offers penetrating insight into the art and science of decision making. Relevant to both business and personal life, it's a must read for any decision maker."-Alfred P. West Jr., Chairman and CEO, SEI Investments

Computation and Complexity in Economic Behavior and Organization

Author : Kenneth R. Mount
Publisher : Cambridge University Press
ISBN 13 : 9780521037891
Total Pages : 248 pages
Book Rating : 4.0/5 (378 download)

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Book Synopsis Computation and Complexity in Economic Behavior and Organization by : Kenneth R. Mount

Download or read book Computation and Complexity in Economic Behavior and Organization written by Kenneth R. Mount and published by Cambridge University Press. This book was released on 2007-07-19 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents a model of computing and a measure of computational complexity which are intended to facilitate analysis of computations performed by people, machines, or a mixed system of people and machines. The model is designed to apply directly to models of economic theory, which typically involve continuous variables and smooth functions, without requiring analysis of approximations. The model permits analysis of the feasibility and complexity of the calculations required of economic agents in order for them to arrive at their decisions. The treatment contains applications of the model to game theory and economics, including comparison of the complexities of different solution concepts in certain bargaining games, and the trade-off between communication and computation in an example of an Edgeworth Box economy.

Decisions

Author : Karin Brunsson
Publisher :
ISBN 13 : 9781788110389
Total Pages : 0 pages
Book Rating : 4.1/5 (13 download)

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Book Synopsis Decisions by : Karin Brunsson

Download or read book Decisions written by Karin Brunsson and published by . This book was released on 2017 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Decisions is a concise and easy-to-read introduction to a highly significant and intriguing topic. The concepts and analyses presented in the book provide useful tools for those who want to understand decision processes or effectively influence their outcomes. In this accessible book, Karin and Nils Brunsson explore the intricacies of decision-making for individuals and organizations. When, how and why do they make decisions? The authors identify four distinct ways of reasoning that decision makers use. The consequences of decisions vary: some promote action, others impede it, and some produce more responsibility than others. With in-depth discussions of rationality, justifications and hypocrisy, the authors show how organizational and political decision processes become highly complex phenomena. Drawing together research from several fields, it provides useful reading and essential knowledge for students and scholars throughout the social sciences and for everyone who wants to understand their own decisions and those of others.

Debate the Issues: Complexity and Policy making

Author : Collectif
Publisher : OECD
ISBN 13 : 9264271589
Total Pages : 104 pages
Book Rating : 4.2/5 (642 download)

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Book Synopsis Debate the Issues: Complexity and Policy making by : Collectif

Download or read book Debate the Issues: Complexity and Policy making written by Collectif and published by OECD. This book was released on 2017-06-06 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt: The OECD’s New Approaches to Economic Challenges initiative invited experts from inside and outside the Organisation to discuss complexity theory as a means to better understand the interconnected nature of the trends and influences shaping our socio-economic environment. Their contributions, brought together here, examine the assumptions, strengths and shortcomings of traditional models, and propose a way to build new ones that would take into account factors such as psychology, history and culture neglected by these models. The authors concentrate on the discipline of economics as such; the financial system; and applications of complexity theory to policy making and governance. They argue that a new narrative is needed to integrate the hopes, values, attitudes and behaviours of people into economics along with the facts and data economists are more used to dealing with.