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Cooperative Decision Making Under Risk
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Book Synopsis Cooperative Decision-Making Under Risk by : Jeroen Suijs
Download or read book Cooperative Decision-Making Under Risk written by Jeroen Suijs and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 145 pages. Available in PDF, EPUB and Kindle. Book excerpt: In cooperative games, one generally assumes that the agents know exactly the joint (monetary) gains that can be achieved by any possible coalition of cooperating agents. In reality, however, only little is known with certainty. This does not necessarily imply that traditional cooperative game theory cannot be applied in practical situations, for in various cases knowledge of the expected gains suffices. In many other cases, however, it is just the sharing of risk that is beneficial. Joint ventures, for instance, exist since cooperation reduces the risk of the investment for the individual parties. Since the existing models fail to incorporate such risks, they are not suitable for analyzing cooperative decision-making under risk. This book aims to rectify this deficiency by discussing a model of cooperative games with random payoffs.
Book Synopsis Decision Making Under Uncertainty by : Mykel J. Kochenderfer
Download or read book Decision Making Under Uncertainty written by Mykel J. Kochenderfer and published by MIT Press. This book was released on 2015-07-24 with total page 350 pages. Available in PDF, EPUB and Kindle. Book excerpt: An introduction to decision making under uncertainty from a computational perspective, covering both theory and applications ranging from speech recognition to airborne collision avoidance. Many important problems involve decision making under uncertainty—that is, choosing actions based on often imperfect observations, with unknown outcomes. Designers of automated decision support systems must take into account the various sources of uncertainty while balancing the multiple objectives of the system. This book provides an introduction to the challenges of decision making under uncertainty from a computational perspective. It presents both the theory behind decision making models and algorithms and a collection of example applications that range from speech recognition to aircraft collision avoidance. Focusing on two methods for designing decision agents, planning and reinforcement learning, the book covers probabilistic models, introducing Bayesian networks as a graphical model that captures probabilistic relationships between variables; utility theory as a framework for understanding optimal decision making under uncertainty; Markov decision processes as a method for modeling sequential problems; model uncertainty; state uncertainty; and cooperative decision making involving multiple interacting agents. A series of applications shows how the theoretical concepts can be applied to systems for attribute-based person search, speech applications, collision avoidance, and unmanned aircraft persistent surveillance. Decision Making Under Uncertainty unifies research from different communities using consistent notation, and is accessible to students and researchers across engineering disciplines who have some prior exposure to probability theory and calculus. It can be used as a text for advanced undergraduate and graduate students in fields including computer science, aerospace and electrical engineering, and management science. It will also be a valuable professional reference for researchers in a variety of disciplines.
Book Synopsis Handbook of the Fundamentals of Financial Decision Making by : Leonard C. MacLean
Download or read book Handbook of the Fundamentals of Financial Decision Making written by Leonard C. MacLean and published by World Scientific. This book was released on 2013 with total page 941 pages. Available in PDF, EPUB and Kindle. Book excerpt: This handbook in two parts covers key topics of the theory of financial decision making. Some of the papers discuss real applications or case studies as well. There are a number of new papers that have never been published before especially in Part II.Part I is concerned with Decision Making Under Uncertainty. This includes subsections on Arbitrage, Utility Theory, Risk Aversion and Static Portfolio Theory, and Stochastic Dominance. Part II is concerned with Dynamic Modeling that is the transition for static decision making to multiperiod decision making. The analysis starts with Risk Measures and then discusses Dynamic Portfolio Theory, Tactical Asset Allocation and Asset-Liability Management Using Utility and Goal Based Consumption-Investment Decision Models.A comprehensive set of problems both computational and review and mind expanding with many unsolved problems are in an accompanying problems book. The handbook plus the book of problems form a very strong set of materials for PhD and Masters courses both as the main or as supplementary text in finance theory, financial decision making and portfolio theory. For researchers, it is a valuable resource being an up to date treatment of topics in the classic books on these topics by Johnathan Ingersoll in 1988, and William Ziemba and Raymond Vickson in 1975 (updated 2 nd edition published in 2006).
Book Synopsis Distributed Decision Making by : Jens Rasmussen
Download or read book Distributed Decision Making written by Jens Rasmussen and published by Wiley. This book was released on 1991-08-26 with total page 416 pages. Available in PDF, EPUB and Kindle. Book excerpt: Frequently (and often inappropriately) decision making in the work environment has been analyzed and modeled in terms of isolated decisions made by one person. In reality, decision making is a continuous, interpersonal process usually involving several ``decision makers'' aiming at dynamic and cooperative control of the state of affairs at work. Based on original contributions from researchers and research teams, this book provides an urgently needed cognitive approach to models of distributed decision making, exploring the basis for design of decision support systems in various complex, collective, modern work environments. It identifies the state of the art of modeling distributed decision making and the problems imposed by modern high-tech systems. A also formulates promising research avenues.
Book Synopsis Decision Making Under Uncertainty by : David E. Bell
Download or read book Decision Making Under Uncertainty written by David E. Bell and published by Thomson South-Western. This book was released on 1995 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: These authors draw on nearly 50 years of combined teaching and consulting experience to give readers a straightforward yet systematic approach for making estimates about the likelihood and consequences of future events -- and then using those assessments to arrive at sound decisions. The book's real-world cases, supplemented with expository text and spreadsheets, help readers master such techniques as decision trees and simulation, such concepts as probability, the value of information, and strategic gaming; and such applications as inventory stocking problems, bidding situations, and negotiating.
Book Synopsis Cooperative Decision-Making in Modular Product Family Design by : Marc Windheim
Download or read book Cooperative Decision-Making in Modular Product Family Design written by Marc Windheim and published by Springer Nature. This book was released on 2019-11-21 with total page 219 pages. Available in PDF, EPUB and Kindle. Book excerpt: The development of modular product families holds enormous economic potential for companies, as there are always great opportunities but also risks associated with all life phases of a product. However, these fundamental and far-reaching effects inevitably lead to conflicting objectives when defining modular product structures, which makes decision-making in product development particularly complex.Considering relevant theories from decision theory and product family design, this book presents an innovative method to support decision makers in the development of modular product families. The central element of the method is a novel Modularity Decision Dashboard (MDD), which interactively visualizes all decision-relevant data. The findings presented here confirm that applying the method to real-world decision-making problems leads to a more balanced ratio between internal and external variety, and thus significantly contributes to the efficient economic benefit of modularization.
Book Synopsis Cooperative Decision-Making Under Risk by : Jeroen Suijs
Download or read book Cooperative Decision-Making Under Risk written by Jeroen Suijs and published by Springer. This book was released on 2011-09-15 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt: In cooperative games, one generally assumes that the agents know exactly the joint (monetary) gains that can be achieved by any possible coalition of cooperating agents. In reality, however, only little is known with certainty. This does not necessarily imply that traditional cooperative game theory cannot be applied in practical situations, for in various cases knowledge of the expected gains suffices. In many other cases, however, it is just the sharing of risk that is beneficial. Joint ventures, for instance, exist since cooperation reduces the risk of the investment for the individual parties. Since the existing models fail to incorporate such risks, they are not suitable for analyzing cooperative decision-making under risk. This book aims to rectify this deficiency by discussing a model of cooperative games with random payoffs.
Book Synopsis Large-Scale Group Decision-Making by : Su-Min Yu
Download or read book Large-Scale Group Decision-Making written by Su-Min Yu and published by Springer Nature. This book was released on 2022-01-03 with total page 195 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores clustering operations in the context of social networks and consensus-reaching paths that take into account non-cooperative behaviors. This book focuses on the two key issues in large-scale group decision-making: clustering and consensus building. Clustering aims to reduce the dimension of a large group. Consensus reaching requires that the divergent individual opinions of the decision makers converge to the group opinion. This book emphasizes the similarity of opinions and social relationships as important measurement attributes of clustering, which makes it different from traditional clustering methods with single attribute to divide the original large group without requiring a combination of the above two attributes. The proposed consensus models focus on the treatment of non-cooperative behaviors in the consensus-reaching process and explores the influence of trust loss on the consensus-reaching process.The logic behind is as follows: firstly, a clustering algorithm is adopted to reduce the dimension of decision-makers, and then, based on the clusters’ opinions obtained, a consensus-reaching process is carried out to obtain a decision result acceptable to the majority of decision-makers. Graduates and researchers in the fields of management science, computer science, information management, engineering technology, etc., who are interested in large-scale group decision-making and consensus building are potential audience of this book. It helps readers to have a deeper and more comprehensive understanding of clustering analysis and consensus building in large-scale group decision-making.
Book Synopsis An Introduction to Decision Theory by : Martin Peterson
Download or read book An Introduction to Decision Theory written by Martin Peterson and published by Cambridge University Press. This book was released on 2017-03-30 with total page 351 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive and accessible introduction to all aspects of decision theory, now with new and updated discussions and over 140 exercises.
Book Synopsis Science and Decisions by : National Research Council
Download or read book Science and Decisions written by National Research Council and published by National Academies Press. This book was released on 2009-03-24 with total page 422 pages. Available in PDF, EPUB and Kindle. Book excerpt: Risk assessment has become a dominant public policy tool for making choices, based on limited resources, to protect public health and the environment. It has been instrumental to the mission of the U.S. Environmental Protection Agency (EPA) as well as other federal agencies in evaluating public health concerns, informing regulatory and technological decisions, prioritizing research needs and funding, and in developing approaches for cost-benefit analysis. However, risk assessment is at a crossroads. Despite advances in the field, risk assessment faces a number of significant challenges including lengthy delays in making complex decisions; lack of data leading to significant uncertainty in risk assessments; and many chemicals in the marketplace that have not been evaluated and emerging agents requiring assessment. Science and Decisions makes practical scientific and technical recommendations to address these challenges. This book is a complement to the widely used 1983 National Academies book, Risk Assessment in the Federal Government (also known as the Red Book). The earlier book established a framework for the concepts and conduct of risk assessment that has been adopted by numerous expert committees, regulatory agencies, and public health institutions. The new book embeds these concepts within a broader framework for risk-based decision-making. Together, these are essential references for those working in the regulatory and public health fields.
Book Synopsis Decision Making under Deep Uncertainty by : Vincent A. W. J. Marchau
Download or read book Decision Making under Deep Uncertainty written by Vincent A. W. J. Marchau and published by Springer. This book was released on 2019-04-04 with total page 408 pages. Available in PDF, EPUB and Kindle. Book excerpt: This open access book focuses on both the theory and practice associated with the tools and approaches for decisionmaking in the face of deep uncertainty. It explores approaches and tools supporting the design of strategic plans under deep uncertainty, and their testing in the real world, including barriers and enablers for their use in practice. The book broadens traditional approaches and tools to include the analysis of actors and networks related to the problem at hand. It also shows how lessons learned in the application process can be used to improve the approaches and tools used in the design process. The book offers guidance in identifying and applying appropriate approaches and tools to design plans, as well as advice on implementing these plans in the real world. For decisionmakers and practitioners, the book includes realistic examples and practical guidelines that should help them understand what decisionmaking under deep uncertainty is and how it may be of assistance to them. Decision Making under Deep Uncertainty: From Theory to Practice is divided into four parts. Part I presents five approaches for designing strategic plans under deep uncertainty: Robust Decision Making, Dynamic Adaptive Planning, Dynamic Adaptive Policy Pathways, Info-Gap Decision Theory, and Engineering Options Analysis. Each approach is worked out in terms of its theoretical foundations, methodological steps to follow when using the approach, latest methodological insights, and challenges for improvement. In Part II, applications of each of these approaches are presented. Based on recent case studies, the practical implications of applying each approach are discussed in depth. Part III focuses on using the approaches and tools in real-world contexts, based on insights from real-world cases. Part IV contains conclusions and a synthesis of the lessons that can be drawn for designing, applying, and implementing strategic plans under deep uncertainty, as well as recommendations for future work. The publication of this book has been funded by the Radboud University, the RAND Corporation, Delft University of Technology, and Deltares.
Book Synopsis Cooperative Enterprises in Australia and Italy by : Anthony Jensen
Download or read book Cooperative Enterprises in Australia and Italy written by Anthony Jensen and published by Firenze University Press. This book was released on 2015-12-18 with total page 308 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book arises from a three-year comparative research program concerning co-operative enterprises in Australia and Italy. The book explores the historical development, legal framework and the peak organisations of co-operatives in the two countries. Specific comparative chapters focus on consumer, credit, and worker-producer co-operatives. The book deepens the analysis of co-operatives by containing chapters that examine specific theoretical and empirical issues such as the theory of co-operative firms as collective entrepreneurial action. Monographic chapters include more in depth analysis of specific typologies of co-operatives, such as social and community oriented co-operatives, some of which were created to contrast organized crime in Southern Italy. The book concludes with an assessment of the implications of the project for public policy.
Book Synopsis Emotions, Decision-Making, Conflict and Cooperation by : Urs Luterbacher
Download or read book Emotions, Decision-Making, Conflict and Cooperation written by Urs Luterbacher and published by Emerald Group Publishing. This book was released on 2016-12-21 with total page 259 pages. Available in PDF, EPUB and Kindle. Book excerpt: In order to use the perspective of emotions to explain conflict escalation and crises, a comparison to conceptions such as the pursuit of power or financial interests is warranted. These theoretical considerations are investigated within cases of civil wars and shown to be effective in explaining the origins but also the breakdown of conflicts.
Book Synopsis Trust in Cooperative Risk Management by : Timothy C. Earle
Download or read book Trust in Cooperative Risk Management written by Timothy C. Earle and published by Routledge. This book was released on 2012-05-04 with total page 314 pages. Available in PDF, EPUB and Kindle. Book excerpt: Trust is an important factor in risk management, affecting judgements of risk and benefit, technology acceptance and other forms of cooperation. In this book the world?s leading risk researchers explore all aspects of trust as it relates to risk management and communication. Drawing on a wide variety of disciplinary approaches and empirical case studies (on topics such as mobile phone technology, well-known food accidents and crises, wetland management, smallpox vaccination, cooperative risk management of US forests and the disposal of the Brent Spar oil drilling platform), this is the most thorough and up-to-date examination of trust in all its forms and complexities. The book integrates diverse research traditions and provides new insights into the phenomenon of trust. Factors that lead to the establishment and erosion of trust are identified. Insightful analyses are provided for researchers and students of environmental and social science and professionals engaged in risk management and communication in both public and private sectors. Related titles The Tolerability of Risk (2007) 978-1-84407-398-6
Book Synopsis Diversification and Cooperation in a Decarbonizing World by : Grzegorz Peszko
Download or read book Diversification and Cooperation in a Decarbonizing World written by Grzegorz Peszko and published by World Bank Publications. This book was released on 2020-07-24 with total page 169 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is the first stocktaking of what the decarbonization of the world economy means for fossil fuel†“dependent countries. These countries are the most exposed to the impacts of global climate policies and, at the same time, are often unprepared to manage them. They depend on the export of oil, gas, or coal; the use of carbon-intensive infrastructure (for example, refineries, petrochemicals, and coal power plants); or both. Fossil fuel†“dependent countries face financial, fiscal, and macro-structural risks from the transition of the global economy away from carbon-intensive fuels and the value chains based on them. This book focuses on managing these transition risks and harnessing related opportunities. Diversification and Cooperation in a Decarbonizing World identifies multiple strategies that fossil fuel†“dependent countries can pursue to navigate the turbulent waters of a low-carbon transition. The policy and investment choices to be made in the next decade will determine these countries’ degree of exposure and overall resilience. Abandoning their comfort zones and developing completely new skills and capabilities in a time frame consistent with the Paris Agreement on climate change is a daunting challenge and requires long-term revenue visibility and consistent policy leadership. This book proposes a constructive framework for climate strategies for fossil fuel†“dependent countries based on new approaches to diversification and international climate cooperation. Climate policy leaders share responsibility for creating room for all countries to contribute to the goals of the Paris Agreement, taking into account the specific vulnerabilities and opportunities each country faces.
Book Synopsis Environmental Management and Governance by : Raymond Burby
Download or read book Environmental Management and Governance written by Raymond Burby and published by Routledge. This book was released on 2013-04-15 with total page 273 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book addresses aspects of environmental management that raise fundamental questions about governmental roles and the relationship of humans to the environment.
Book Synopsis Agricultural Cooperatives In Transition by : Csaba Csaki
Download or read book Agricultural Cooperatives In Transition written by Csaba Csaki and published by Routledge. This book was released on 2021-11-28 with total page 343 pages. Available in PDF, EPUB and Kindle. Book excerpt: Originally published in 1993, this is a study of agricultural co-operatives. The farming structure in transition countries has shifted from dominance of large corporate farms to family smallholdings. Smallholders everywhere experience difficulties with access to market services, including sale of products, purchase of inputs, and acquisition of machinery; they suffer from credit shortages and have limited access to information and advisory services. The barriers to market access prevent smallholders from fully exploiting their inherent productivity advantages. Best-practice world experience highlights farmers' service cooperatives, created by grassroots users, as the most effective way of improving the market access of small farmers. Service cooperatives also help smallholders overcome market failures, when private business entrepreneurs are unwilling to provide services in areas that they judge unprofitable or unfairly exploit users through monopolistic practices. These difficulties and market failures are prominent in transition countries and scholars accordingly expected rapid development of agricultural service cooperatives in response to smallholder needs. The present volume explores gaps between expectations and reality.
