Measuring Information Loss in Managerial Decision

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F67985556%3A_____%2F16%3A00456860" target="_blank" >RIV/67985556:_____/16:00456860 - 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

Measuring Information Loss in Managerial Decision

Popis výsledku v původním jazyce

Traditional decision theory dealing with uncertainty is usually considering criteria based on expected values, or, variantly, on selected quantiles of objective function. Both, however, take into account just rather small part of available information, in particular not counting with possible variability of involved random variables. That is why the criteria based simultaneously on a set of reasonable characteristics should be preferred. This leads to a multiobjective problem and solution based on an appropriate utility function. In the present paper we propose quantitative characteristics measuring information loss caused by reduction of information used in decision. Such measures can help us to find a trade-off between the decision problem complexity and its reasonable simplified re-formulation. This concept is illustrated on examples.

Název v anglickém jazyce

Measuring Information Loss in Managerial Decision

Popis výsledku anglicky

Traditional decision theory dealing with uncertainty is usually considering criteria based on expected values, or, variantly, on selected quantiles of objective function. Both, however, take into account just rather small part of available information, in particular not counting with possible variability of involved random variables. That is why the criteria based simultaneously on a set of reasonable characteristics should be preferred. This leads to a multiobjective problem and solution based on an appropriate utility function. In the present paper we propose quantitative characteristics measuring information loss caused by reduction of information used in decision. Such measures can help us to find a trade-off between the decision problem complexity and its reasonable simplified re-formulation. This concept is illustrated on examples.

Druh

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

CEP obor

BB - Aplikovaná statistika, operační výzkum

OECD FORD obor

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Projekt

<a href="/cs/project/GA13-14445S" target="_blank" >GA13-14445S: Nové trendy ve stochastických ekonomických modelech za neurčitosti</a><br>

Návaznosti

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Rok uplatnění

2016

Kód důvěrnosti údajů

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

Název periodika

Academic Journal of Management Science Research

ISSN

2414-6498

e-ISSN

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Svazek periodika

1

Číslo periodika v rámci svazku

1

Stát vydavatele periodika

AT - Rakouská republika

Počet stran výsledku

7

Strana od-do

26-32

Kód UT WoS článku

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EID výsledku v databázi Scopus

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