Search results for "Decision engineering"
showing 5 items of 5 documents
The foundations of decision theory: An intuitive, operational approach with mathematical extensions
1985
A new axiomatic basis for the foundations of decision theory is introduced and its mathematical development outlined. The system combines direct intuitive operational appeal with considerable structural flexibility in the resulting mathematical framework.
Survey of methods to visualize alternatives in multiple criteria decision making problems
2012
When solving decision problems where multiple conflicting criteria are to be considered simultaneously, decision makers must compare several different alternatives and select the most preferred one. The task of comparing multidimensional vectors is very demanding for the decision maker without any support. Different graphical visualization tools can be used to support and help the decision maker in understanding similarities and differences between the alternatives and graphical illustration is a very important part of decision support systems that are used in solving multiple criteria decision making problems. The visualization task is by no means trivial because, on the one hand, the grap…
Software Modernization and Replacement Decision Making in Industry: A Qualitative Study
2006
Software modernization and replacement decisions are crucial to many organizations. They affect greatly to the success and well being of the organizations and their people. The decisions like that are usually presumed to be rational and based on facts. These decisions and how they are made tell much about the decision makers and the decision making tools available to them. Interviews of 29 software modernization decision makers or senior experts were analyzed in order to find out how the decisions were made and what models and tools were used. It turned out that decisions are not as rational as supposed. Intuition is the dominant factor in decision making. Formal software engineering orient…
Emotions in Economic Decision Making: A Multidisciplinary Approach
2013
AbstractAccording to classical and neoclassical economics, decisions are made based on information and cost-benefit analysis. In reality, the decision making process is much more complex than previously thought, because it also involves psychological factors. Decision making is interdisciplinary, researched by psychologists, sociologists, economists, philosophers, neuroscientists and others. These fields have distinctive and common concepts about decision making. The aim of this paper is to identify what role emotions play in the economic decision making process. The paper focuses on describing and explaining the interconnection of sciences, such as economics, psychology and neuroscience, b…
Multiple-attribute decision support system based on fuzzy logic for performance assessment
2005
Abstract This paper deals with the problem of assessing the performance of a set of production units, simultaneously considering different kinds of information, yielded by a Data Envelopment Analysis, a qualitative data analysis and an expert assessment. The tool for integrating heterogeneous data is a model that applies fuzzy logic to decision support systems. The results obtained are a holistic performance assessment of each unit of the set and a ranking order of the units.