Human fallability and sequential decision making: hierarchy versus polyarchy

Article Abstract:

A model was developed to evaluate the process of decision making in big corporations. The model assumes that perfect information does not exist and human fallibility is present. In some organizations, individuals with varied interests jointly decide for the company. The effectiveness of such a decision depends heavily on how opinions are accumulated and organized. The nodel focuses on the nature of hierarchy and polyarchy.

Planning, Management

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A model of decision making under bounded rationality

Article Abstract:

An analysis of a decision making model is presented. The model assumes the inclusion of bounded rationality conditions. Such conditions allow the combination of satisficing behavior through environmental feedback. It is shown that a combination of elements introduced from a simple linear response model generates a dynamic process for decision making which covers an extensive range in both long- and short-run terms.

Analysis, Functions of bounded variation, Bounded variation functions

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Navigating a nonlinear environment: an experimental study of decision making in a chaotic setting

Article Abstract:

A nonlinear game setting with chaotic dynamics potential was created to evaluate individual behavior under nonlinear settings. In a nonlinear game setting, the existence of various choices for players, such as chaotic dynamics and emergent leader-follower equilibrium, was noted. Subjects who achieved success in operating under a complex decision setting were those who utilized incremental search strategy.

Economics, Research and Development in the Social Sciences and Humanities, Game theory

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