Uncertainty, experience and the phase theorem

Article Abstract:

The relevance of the phase thorem in information and decision-making processes is examined under the conditions of uncertainty and experience. Analyses of the original decision-making processes in two very different situations, 'R&D and project planning' and 'students and the balance sheet problem,' indicate weak support for the theorem. However, theextent of its weakness is dependent on the experience of the decision maker andthe complexity of the problem confronted. The concept of the uncertainty map isthereby introduced.

Research, Models, Management, Technological innovations, Problem solving, Uncertainty, Experience

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A transitivity approach to preference relational systems

Article Abstract:

The preference structures or preference relational systems (PRS) of a decision maker are examined using the transitivity approach. The most important types of these systems are derived from mixed transitivity properties or conditions under which a series of preference or indifference relations implies the preference between the first and the last object in the chain. Graphs, matrices and value-threshold functions are employed to analyze illustrations of the model.

Usage, Binary system (Mathematics)

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Decision science or decision-aid science?

Article Abstract:

Decision-making in the field of Operational Research and Decision Aid (OR-DA) must always consider the interaction of participants with realistic systems. Seeking solutions through the realism, axiomatic and constructivist paths forces researchers to acknowledge certain facts and postulates that are impractical in OR-DA applications. Thus, shifting the focus for an acceptable solution results in the development of a decision-aid science.

Operations research, Management science, Analysis, Model theory

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