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Concepts, Methods and Techniques

  • Shyama Prasad Mukherjee - Former Professor of Statistics at the University of Calcutta and former Vice President of the International Federation of Operational Research Societies

January 2022 | 424 pages | SAGE Publications Pvt. Ltd
This book presents a comprehensive and updated account of concepts, methods and techniques of decision-making. It has derived strength from advances in several branches of knowledge including mathematics, computer science, behavioural economics, logic and related areas, besides statistical decision theory. The reader will find here an integrated picture of concepts, methods and analytics to aid decision-making in a wide array of situations, ranging from classical optimization to computational social choice and organizational responses to emergency and stress. 

Decision-making: Concepts, Methods and Techniques lucidly presents the decision-making tools aided and strengthened by decision theory in all its domains and dimensions, at the same time emphasizing the role of human behaviour in all its diversity.

Decisions and decision-making
Ubiquity of Decisions
Rationality and Bounded Rationality
Hierarchy of Decisions
Group Decisions
Social Choice Decisions
Decision-making and Problem-solving
Descriptive and Normative Decision Theory
Case-based Decision Theory
Decision Theory and Decision-making
Decision-making Process
Some Generalities
States of Nature
Criteria for Choice
Utility and Its Measurement
Optimality Principle
Establishing Trade-Off’s
Types of Decision Problems
Elaborating Some Examples
Sequential and Dynamic Decision-making
Robustness of Decisions
Representation of Decision Problems
Decision Environment
Decision Matrix
Influence Diagram
Decision Trees
Influence Diagram and Decision Tree
Decision Analytic Network
Gantt Chart
Network Diagrams
Decisions under Certainty and Uncertainty
Decision-making under Uncertainty
Info-gap Decision Analysis
Interval Programming Problem
Decision-making under Certainty
Unstructured Decision Problems
Mathematical Programming
Decision-making under Risk
Approaches to Decision-making under Risk
Stochastic Optimization
Stochastic Linear Programming
Probabilistic Dynamic Programming
Fuzzy Decision-making
Prospect Theory
Priority Heuristic
Decision-making under Evidence Theory
Decisions under Competition
Games and Decisions
Matrix Games
Solving Matrix Games
Polymatrix Games
Prisoners’ Dilemma
Evolutionary Games
Analysis of Meta-Games
Co-operative Games
Stackelberg Games
Statistical Decision Theory
Beginning from Classical Statistics
Statistical Decision Process
Some Examples
The Optimality Principle
Derivation of Minimax and Bayes Estimators
The Bayesian Paradigm
Prolongation of the Bayesian Paradigm
Multiple Decision Functions
Sequential Decision Theory
Design of Clinical Trials
Robust Decision-making
Multi-Criteria Decision-Making
Classification of MCDM Methods
Essentials in MCDM
Analytic Hierarchy Process
Analytic Network Process
Data Envelopment Analysis
Combinations of DEA, AHP and TOPSIS
Co-Co-So Model
Stochastic Multi-Criteria Acceptability Analysis
Fuzzy MCDM
Challenges Ahead
Social Choice Problems
Distinctive Features of Social Choice
Preference Aggregation
Axioms and Arrow’s Impossibility Theorem
Consistency of Social Choice Functions
Probabilistic Social Choice Functions
Social Choice and Social Network
The Nudge Theory
Computational Social Choice
Decision-making Models
Approaches in Managerial Decision-making
Qualitative Decision-making Models
Models Using Quantitative Methods
Models for Problem-Solving
Paired Comparison Analysis
Theory of Constraints
Alternatives and Constraints
Issues in Optimization
Desiderata for Alternatives
Development of Alternatives
Pooling Expert Opinions
Domain Knowledge in Designing Alternatives
Probabilities as Alternatives
Alternatives in Evolutionary Algorithms
Rules and Procedures as Alternatives
Alternatives for Organizational Decisions
Constraints in Real-Life Decisions
Using Infeasible Solutions
Figuring out States of Nature
Post-implementation Feasibility Check
Generation of Criteria
Criterion versus Objective Function
Alternative-Criterion Interaction
Criterion versus Rule for Choice
Characteristics of a Criterion
Aggregate as a Criterion
Criteria in group Decision-Making
Points to Ponder
Paired Comparison, Ranking and Scaling
Paired Comparison
Aggregating Paired Comparison Results
Ranking of Units
Aggregation of Ranking Data
Concordance among Multiple Rankings
Consensus Ranking
Scaling of Alternatives
Rank Reversal
Role of Information
Search for Information
Value of Information
Decisions in Fuzzy Environments
Information to Identify Feasible Options
Information in Social Choice Problems
A Peep into Gray Areas
Are There Gray Areas?
Impact of Uncertainty
Concern for Computational Complexity
Information Over-load and Option Deluge
Infirmities in Decision-Making
The Paradox of Choice
Can We Conclude?
References and Suggested Readings

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ISBN: 9789354791079