Making Better Decisions

Balancing Conflicting Criteria

Pekka J. Korhonen, Jyrki Wallenius (Autoren)

Buch | Hardcover

XVII, 167 Seiten

2020 | 1st ed. 2020
Springer International Publishing (Verlag)
978-3-030-49457-5 (ISBN)

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This book offers a comprehensive introduction to decision-making in an MCDM framework. Designed as a tutorial, it presents the main concepts and methods to be applied, together with essential background information. This includes the concept of nondominance, Simon's bounded rationality, Tversky and Kahneman's prospect theory, and the concepts of behavioral vs. mathematical convergence and premature stopping put forward by Korhonen, Moskowitz and Wallenius. The book concludes with a non-technical review of many popular decision algorithms, including the Analytic Hierarchy Process (AHP), VIMDA, and a number of classic interactive man-machine algorithms. In essence, the book is a "one-stop" source on everything you need to know about managerial decision-making in the multiple-criteria setting.

Pekka J. Korhonen is Emeritus Professor of Statistics at the Aalto University, School of Business, Finland (formerly Helsinki School of Economics). His research interests include Multiple Criteria Decision Making (MCDM), efficiency/performance analysis, choice behavior and interactive decision support systems. His articles have appeared in many leading journals. One of the leading scholars in Multiple Criteria Decision Making, he has served as President of the International Society on Multiple Criteria Decision Making. The International Society on MCDM has bestowed upon him the George Cantor Award. Jyrki Wallenius is Emeritus Professor of Management Science at Aalto University School of Business. He is one of the leaders of his field, which encompasses Multiple Criteria Decision Making and Decision Support. His current research interests focus on multiple objective optimization, in particular hybrid MCDM/EMO approaches, combinatorial multiple objective optimization and behavioral decision theory, including neuro-economics. He is past editor of EJOR and past President of the International Society on Multiple Criteria Decision Making. He is the recipient of numerous awards, both domestic and international.

Different Paradigms of Decision-Making.- About the Role of Intuition.- Towards Analytic Decision-Making.- How Do Humans Make Choices?.- Beware of Decision Traps: The World of Certainty.- Beware of Decision Traps: The World of Uncertainty.- The Devil is in the Details.- A Picture is Worth a Thousand Words.- Choosing Among Known Alternatives.- Designing Potential Solutions.- Solving Design Problems.- Need for Decision Support Systems.- Use Scenarios Instead of a Crystal Ball.- Making Operations More Efficient.- Real-World Problems.- Negotiating a Deal.- In Conclusion.

Erscheinungsdatum	20.08.2020
Reihe/Serie	International Series in Operations Research & Management Science
Zusatzinfo	XVII, 167 p. 68 illus., 21 illus. in color.
Verlagsort	Cham
Sprache	englisch
Maße	155 x 235 mm
Gewicht	453 g
Themenwelt	Wirtschaft ► Allgemeines / Lexika
Themenwelt	Wirtschaft ► Betriebswirtschaft / Management
Schlagworte	Behavioral Decision Making • decision support • Dominance principle • Mulriple Criteria Decision Aiding • Multi-attribute choice • Multiple Criteria Decision Making • Prospect Theory • Reference-dependent model
ISBN-10	3-030-49457-8 / 3030494578
ISBN-13	978-3-030-49457-5 / 9783030494575
Zustand	Neuware