Managerial Decision-making: Measuring and Manifesrtaion of Risks and the Possibilities of their Reducing

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F47813059%3A19240%2F11%3A%230004443" target="_blank" >RIV/47813059:19240/11:#0004443 - isvavai.cz</a>

Výsledek na webu

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DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

Managerial Decision-making: Measuring and Manifesrtaion of Risks and the Possibilities of their Reducing

Popis výsledku v původním jazyce

The paper is concerned with measuring and assessment of risks in managerial decision-making. It builds upon economic information entropy as a degree of uncertainty, which is converted into the concept of risk expressed in terms of probability and using confidence intervals of the predicted quantities. The paper explains the relation of a degree of risk expressed by the classical information measure, bit, by the concept of confidence intervals, or possibly by the standard deviation. When making decisions, the manager is interested not only in the quantitatively expressed value of risk with the use of forecasting models, but mainly in the impact of decrease/increase of decision-making risk expressed by the effect, i.e. profit/loss caused by such a decision to achieve targets. A method of decision effect calculation is proposed which is derived from the entropy change and the change in risk in managerial decision-making. Forecasting models are applied which are based on an expert estimate

Název v anglickém jazyce

Managerial Decision-making: Measuring and Manifesrtaion of Risks and the Possibilities of their Reducing

Popis výsledku anglicky

The paper is concerned with measuring and assessment of risks in managerial decision-making. It builds upon economic information entropy as a degree of uncertainty, which is converted into the concept of risk expressed in terms of probability and using confidence intervals of the predicted quantities. The paper explains the relation of a degree of risk expressed by the classical information measure, bit, by the concept of confidence intervals, or possibly by the standard deviation. When making decisions, the manager is interested not only in the quantitatively expressed value of risk with the use of forecasting models, but mainly in the impact of decrease/increase of decision-making risk expressed by the effect, i.e. profit/loss caused by such a decision to achieve targets. A method of decision effect calculation is proposed which is derived from the entropy change and the change in risk in managerial decision-making. Forecasting models are applied which are based on an expert estimate

Druh

J_x - Nezařazeno - Článek v odborném periodiku (Jimp, Jsc a Jost)

CEP obor

AH - Ekonomie

OECD FORD obor

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Projekt

<a href="/cs/project/ED1.1.00%2F02.0070" target="_blank" >ED1.1.00/02.0070: Centrum excelence IT4Innovations</a><br>

Návaznosti

P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)

Rok uplatnění

2011

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název periodika

Journal of Economics

ISSN

0013-3035

e-ISSN

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Svazek periodika

59

Číslo periodika v rámci svazku

4

Stát vydavatele periodika

SK - Slovenská republika

Počet stran výsledku

17

Strana od-do

337-354

Kód UT WoS článku

000291707100004

EID výsledku v databázi Scopus

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