Decision & Control in Management Science analyzes emerging decision problems in the management and engineering sciences. It is divided into five parts. The first part explores methodological issues involved in the optimization of deterministic and stochastic dynamical systems. The second part describes approaches to the model energy and environmental systems and draws policy implications related to the mitigation of pollutants. The third part applies quantitative techniques to problems in finance and economics, such as hedging of options, inflation targeting, and equilibrium asset pricing. The fourth part considers a series of problems in production systems. Optimization methods are put forward to provide optimal policies in areas such as inventory management, transfer-line, flow-shop and other industrial problems. The last part covers game theory. Chapters range from theoretical issues to applications in politics and interactions in franchising systems. Decision & Control in Management Science is an excellent reference covering methodological issues and applications in operations research, optimal control, and dynamic games.

Because of the dramatic changes that economic deregulation has caused in the electricity industry and the widespread social concern about nuclear power safety, Effects of Deregulation on Safety is extremely timely. Effects of Deregulation on Safety uses case studies of the effects of deregulation on the U.S. air and rail industries and the United Kingdom nuclear power industry, as a basis for identifying likely impacts of electricity deregulation on safety of the U.S. commercial nuclear power industry.

Effects of Deregulation on Safety provides a comprehensive overview of the safety experiences of these three case study industries and their implications for the U.S. nuclear power industry. The treatment of the subject is not highly technical, and hence is accessible to a wide range of readers with interests in the subject matter. The book draws on literature from roughly 250 references, ranging from brief news articles to book-length studies of deregulation in a particular industry, as well as original in-depth interviews with representatives of all three case study industries.

This wealth of empirical background information allows the book to go beyond mere speculation about the possible adverse safety consequences of deregulation, to identify situations in which particular adverse safety consequences actually occurred. The experience of the case study industries indicates that economic deregulation need not be incompatible with a reasonable safety record, especially in those aspects of safety that are positively related to productivity. But that safety also cannot be taken for granted after deregulation. Careful management attention is needed in order to avoid the types of safety problems that were associated with deregulation in the case study industries.

Ira Horowitz Depending upon one's perspective, the need to choose among alternatives can be an unwelcome but unavoidable responsibility, an exciting and challenging opportunity, a run-of-the-mill activity that one performs seem ingly "without thinking very much about it," or perhaps something in between. Your most recent selections from a restaurant menu, from a set of jobs or job candidates, or from a rent-or-buy or sell-or-Iease option, are cases in point. Oftentimes we are involved in group decision processes, such as the choice of a president, wherein one group member's unwelcome responsibility is another's exciting opportunity. Many of us that voted in the presidential elections of both 1956 and 1984, irrespective of political affiliation, experienced both emotions; others just pulled the lever or punched the card without thinking very much about it. Arriving at either an individual or a group decision can sometimes be a time consuming, torturous, and traumatic process that results in a long regretted choice that could have been reached right off the bat. On other occasions, the "just let's get it over with and get out of here" solution to a long-festering problem can yield rewards that are reaped for many 1 ORGANIZATION AND DECISION THEORY 2 years to come. One way or another, however, individuals and organiza tions somehow manage to get the decision-making job done, even if they don't quite understand, and often question, just how this was accomplished."

This volume presents new concepts and methods in Air Traffic Management, in particular: Collaborative Decision Making, as it incorporates for the first time airline companies in the management process; Congestion Pricing, as many part of the systems are and will remain saturated, hence only leveling of demand can contribute to global efficiency; Flow Management Methods, as the most important tools in planning and analysis; Models of Controller-Pilot Interaction, as deregulation increases the workload of this communication; Weather Forecast, as airport capacity is strongly affected by weather conditions.

Should you take a much-needed vacation or save money for the kids' education? Protect the endangered owl or maintain jobs for loggers? Have a heart-to-heart with a lying employee or fire him on the spot?

All of us face ethical choices. Sometimes they're easy: One side is wrong and the other is right. But how do we handle the really tough "right vs. right" dilemmas, where each side has strong moral arguments and we can't do both? This book helps us build Ethical Fitness(R)--a values-based decision-making process so definitive that it's now a registered trade mark.

Rushworth M. Kidder, founder of the Institute for Global Ethics, teaches us how to think for ourselves in order to resolve ethical dilemmas ranging from the intimately personal to the broadly philosophical. Unique in its approach and rich with illustrative anecdotes--updated with examples of real-world conflicts from today's political realm and from Dr. Kidder's own observations--How Good People Make Tough Choices is an indispensable resource for spotting, understanding, and resolving our toughest decisions.

The objective of this book is to present this analytical framework and to illustrate how it can be used in the investigation of economic decisions under risk. In a sense, the economics of risk is a difficult subject: it involves understanding human decisions in the absence of perfect information. How do we make decisions when we do not know some of events affecting us? The complexities of our uncertain world and of how humans obtain and process information make this difficult. In spite of these difficulties, much progress has been made. First, probability theory is the corner stone of risk assessment. This allows us to measure risk in a fashion that can be communicated among decision makers or researchers. Second, risk preferences are now better understood. This provides useful insights into the economic rationality of decision making under uncertainty. Third, over the last decades, good insights have been developed about the value of information. This helps better understand the role of information in human decision making and this book provides a systematic treatment of these issues in the context of both private and public decisions under uncertainty.
* Balanced treatment of conceptual models and applied analysis
* Considers both private and public decisions under uncertainty
* Website presents application exercises in EXCEL

Proceedings of the Third Symposium on Heavy Gas and Risk Assessment, Bonn, Wissenschaftszentrum, November 12-13, 1984

This book is designed for the chemist, formulator, student, teacher, forensic scientist, or others who wish to investigate the composition of polymeric materials. Theinformationwithinthesepagesisintendedtoarmthereaderwiththenecessary workingknowledgetoanalyze, characterize, anddeformulatematerials. ThestructureoftheContentsisintendedtoassistthereaderinquicklylocating the subject of interest and proceed to it with a minimum of expended time and effort. The Contents provides an outline of major topics and relevant materials char- terizedforthereader'sconvenience. Anintroductiontoanalysisanddeformulation is provided in Chapter 1 to acquaint the reader with analytical methods and their applications. Extensive references are provided as additional sources ofinfor- tion. All tables arelocatedin theAppendix, beginning onp. 235. GUIDE FOR USE This is a practical book structured to efficiently use the reader's time with a minimum effort of searching for entries and information by following these brief instructions: 1. Searchthe Contents and/orIndex fora subject withinthe text. 2. Analysis/deformulation principles are discussed at the outset to familiarize the reader with analysis methods and instruments; followed by formu- tions, materials, and analysis ofpaint, plastics, adhesives, and inks; and finally reformulation methods to test the results of analysis. 3. Materials and a wide assortment of formulations are discussed within the text by chapter/section number. 4. Materials are referred toby various names (trivial, trade, and scientific), and these are listed in tables and cross-referenced to aid the reader.

The present book treats a highly specialized topic, namely effec tivity functions, which are a tool for describing the power structure implicit in social choice situations of various kind. One of the ad vantages of effectivity functions is that they seem to contain exactly the information which is needed in several problems of implementa tion, that is in designing the rules for individual behaviour given that this behaviour at equilibrium should result in a prescribed functional connection between preferences and outcome. We shall be interested in both formal properties of effectiv ity functions and applications of them in social choice theory, and among such applications in particular the implementation problem. This choice of emphasis necessarily means that some other topics are treated only superficially or not at all. We do not attempt to cover all contributions to the field, rather we try to put some of the results together in order to get a reasonably coherent theory about the role of the power structure in cooperative implementation. The authors are indebted to many persons for assistance and advice during the work on this book. In particular, we would like to thank Peter Fristrup and Bodil Hansen for critical reading of the manuscript, and Lene Petersen for typesetting in '.lEX."

Imagine if you could fit your business strategy on a single sheet of paper? Imagine having your plans, action points and progress report all in one place? Imagine how easy it would be to share your plans with other people? Now you can, with this innovative 4-step strategic planning tool, known as OGSM. It will help you streamline your thinking as well as your writing and develop a one-page plan that gets you results fast. With an accompanying app! "A must-read for anyone who wants to make a strategic plan that definitely delivers results." Conny Braams, Senior VP Operations, Unilever Food Solutions

Expected utility provides simple, testable properties of the optimum behavior that should be displayed by risk-averse individuals in risky decisions. Simultaneously, given the existence of paradoxes under the expected utility paradigm, expected utility can only be regarded as an approximation of actual behavior. A more realistic model is needed. This is particularly true when treating attitudes toward small probability events: the standard situation for insurable risks. Non-Expected Utility and Risk Management examines whether the existing results in insurance economics are robust to more general models of behavior under risk.

Proceedings of the ISPRA-Course Held at the Joint Research Centre, Ispra, Italy, October 21-25, 1985, in Collaboration with EuReDatA

Bring your company into the digital era without compromising your core business In The Digital Transformer's Dilemma: How to Energize Your Core Business While Building Disruptive Products and Services, the authors show companies how to go digital while also advancing their core business. The book emphasizes how to strike a difficult balance between establishing a new (digital) business and re-vitalizing - and digitizing - the legacy business. The core of the book is focused on the actual implementation of the digital transformation across both businesses, providing concrete tips, tricks, tools and action plans across six key dimensions: Crafting a flexible organization Using technology as a driver Designing the necessary processes Building transformational leaders "Right-skilling" the workforce of the future Galvanizing cultural change The Digital Transformer's Dilemma is a very visual book, filled with dozens of engaging illustrations that bring the contained concepts to life on the page. Based on 100+ interviews with senior executives at leading companies (such as Nestle, Novartis, Volkswagen, BNP Paribas, BASF and Michelin) and smaller hidden champions, numerous illuminating case studies, and the authors' own experience from working in international management consulting and years of academic experience, the book highlights the fundamental principles required for executives and businesspeople to transform legacy organizations into digitally empowered companies.

*Once again a New York Times bestseller! First the original edition, and now the new Final Edition* An essential new edition revised and updated from cover to cover of one of the most important books of the last two decades, by Nobel Prize winner Richard H. Thaler and Cass R. Sunstein More than 2 million copies sold Since the original publication of Nudge more than a decade ago, the title has entered the vocabulary of businesspeople, policy makers, engaged citizens, and consumers everywhere. The book has given rise to more than 400 "nudge units" in governments around the world and countless groups of behavioral scientists in every part of the economy. It has taught us how to use thoughtful "choice architecture"-a concept the authors invented-to help us make better decisions for ourselves, our families, and our society. Now, the authors have rewritten the book from cover to cover, making use of their experiences in and out of government over the past dozen years as well as an explosion of new research in numerous academic disciplines. To commit themselves to never undertaking this daunting task again, they are calling this the "final edition." It offers a wealth of new insights, for both its avowed fans and newcomers to the field, about a wide variety of issues that we face in our daily lives-COVID-19, health, personal finance, retirement savings, credit card debt, home mortgages, medical care, organ donation, climate change, and "sludge" (paperwork and other nuisances we don't want, and that keep us from getting what we do want)-all while honoring one of the cardinal rules of nudging: make it fun!

The third volume in the internationally bestselling McKinsey Trilogy, "The McKinsey Engagement" is an action guide to realizing the consistently high level of business solutions achieved by the experts at the world's most respected consulting firms.

Former consultant Dr. Paul Friga distills the guiding principles first presented in the bestselling "The McKinsey Way" and the tested-in-the-trenches methodologies outlined in "The McKinsey Mind," and combines them with many of the principles and procedures implemented by the military and other organizations. The result is nothing less than the business equivalent of a "Special Forces Field Manual."

True to its stated goal of arming consultants and corporate problem solvers with a blueprint for achieving consistently phenomenal results, "The McKinsey Engagement" is short on theory and long on action. Each chapter focuses on one element in the celebrated TEAM FOCUS problem-solving model and features a concise discussion of a key concept or principle, followed by: Clear rules of engagement A set of operating tactics Sophisticated problem solving tools Easy-to-follow action steps Exercises, checklists, and training tips War stories and best practices case studies

A toolkit for bringing clarity, discipline, and purpose to all your problem-solving and change management initiatives, "The McKinsey Engagement" is an indispensable guide for consultants, as well as for executives, managers, students, and corporate trainers.

Multiple Criteria Decision Making and its Applications to Economic Problems ties Multiple Criteria Decision Making (MCDM)/Multiple Objective Optimization (MO) and economics together. It describes how MCDM methods (goal programming) can be used in economics.

The volume consists of two parts. Part One of the book introduces the MCDM approaches. This first part, comprising Chapters 1-5, is basically an overview of MCDM methods that can most likely be used to address a wide range of economic problems. Readers looking for an in-depth discussion of multi-criteria analysis can grasp and become acquainted with the initial MCDM tools, language and definitions.

Part Two, which comprises Chapters 6-8, focuses on the theoretical core of the book. Thus in Chapter 6 an economic meaning is given to several key concepts on MCDM, such as ideal point, distance function, etc. It illustrates how Compromise Programming (CP) can support the standard premise of utility optimisation in economics as well as how it is capable of approximating the standard utility optimum when the decision-makers' preferences are incompletely specified. Chapter 7 deals entirely with production analysis. The main characteristic throughout the Chapter refers to a standard joint production scenario, analysed from the point of view of MCDM schemes. Chapter 8 focuses on the utility specification problem in the n-arguments space within a risk aversion context. A link between Arrows' risk aversion coefficient and CP utility permits this task.

The book is intended for postgraduate students and researchers in economics with an OR/MS orientation or in OR/MS with an economic orientation. In short, it attempts to fruitfully link economics and MCDM.

There is a complex relationship between the environment and the development of tourism, which this book discusses in a thorough and informative manner. Specialists from several disciplines pay attention to the challenges of sustainable tourism, devoting their full attention to cultural, regional and policy issues. This is a revised edition that has been expanded to 22 contributions, with inclusion of the cultural element. All chapters have been updated to include new data and information added to the existing body of literature in the last 7 years. It includes new developments and new insights into the relationship between tourism and the environment. An invaluable sequel to the first edition.

Real options theory has attracted significant interest in the field of strategic management. Advocates of the approach emphasize that importing concepts from financial economics holds out the potential of yielding new insights on strategic decision-making under uncertainty as well as boundary-of-the-firm issues that are the focus of competitive and corporate strategy. While considerable progress has been made in conceptualizing different types of real options for various strategic investments, considerably less has been done to empirically validate the core propositions of real options theory. As a result there is much debate about the merits and promise of real options in strategy.
In light of the recent interest in real options as well as these trends in the field, this volume examines the ways in which real options theory can contribute to strategic management. This volume offers conceptual pieces that trace out pathways for the theory to move forward and presents new research on the implications of real options for strategic investment, organization, and firm performance. The compendium synthesizes and critiques the research on real options as well as offers a catalyst for further research on this theory in the strategy field.
*Seeks to examine the ways in which real options theory can contribute to strategic management.
*Includes conceptual pieces that unearth some of the key stumbling blocks and trace out pathways for real options theory to move forward
*Presents theoretical and empirical analyses of real options in different strategic contexts.

This volume constitutes the papers and discussions from a symposium on "Societal Risk Assessment: How Safe is Safe Enough?" held at the General Motors Research Laboratories on October 8-9, 1979. This symposium was the twenty-fourth in an annual series sponsored by the Research Laboratories. Initi ated in 1957, these symposia have as their objective the promotion of the interchange ofknowledge among specialists from many allied disciplines in rapidly developing or changing areas ofscience or technology. Attendees characteristically represent the academic, government, and industrial institutions that are noted for their ongoing activities in the particular area of interest. The objective of this symposium was to develop a balanced view of the current status of societal risk assessment's role in the public policy process and then to establish, if possible, future directions of research. Accordingly, the symposium was structured in two dimensions; certainty versus uncertainty and the subjective versus the objective. Furthermore, people representing extremely diverse discip lines concerned with the perception, quantification, and abatement of risks were brought together to provide an environment that stimulated the exchange of ideas and experiences. The keys to this exchange were the invited papers, arranged into four symposium sessions. These papers appear in this volume in the order of their presentation. The discussions that in turn followed from the papers are also included."

We live, unfortunately, in turbulent and difficult times plagued by various political, economic, and social problems, as well as by natural disasters worldwide. Systems become more and more complicated, and this concerns all levels, exemplified first by global political alliances, groups of countries, regions, etc., and secondly, by multinational (global) corporations and companies of all sizes. These same concerns affect all social groups. This all makes decision processes very complicated. In virtually all decision processes in these complicated systems, there are various actors (decision makers) who represent individual subjects (persons, countries, companies, etc.) and their respective interest groups. To reach a meaningful (good) decision, opinions of all such actors must be taken into account or a given decision may be rejected and not implemented. Ideally, a decision would be made after a consensus between the parties involved had been attained. So, consensus is a very desirable situation. In most real-world cases there is considerable uncertainty concerning all aspects of the decision making process. Moreover, opinions, goals, constraints, etc. are usually imprecisely known. This makes the decision making process difficult as one cannot employ conventional "hard" tools.

ARIS (Architecture of Integrated Information Systems) is a unique and internationally renowned method for optimizing business processes and implementing application systems.This book describes in detail how ARIS methods model and realize business processes by means of UML (Unified Modeling Language), leading to an information model that is the keystone for a systematic and intelligent method of developing application systems.Multiple real-world examples - including knowledge management, implementation of workflow systems and standard software solutions (SAP R/3 in particular) - address the deployment of ARIS methods.

Intellectual Capital scores highly on the agenda of practicing managers and academics as they all try to disentangle such problems as how to identify and measure intellectual capital and how to value and report intangibles and invisible assets. Few people doubt the importance of measuring, managing, and reporting intangibles such as Intellectual Capital and most practitioners and scholars are in agreement that intangible assets such as knowledge, brand, relationships, organizational culture, and intellectual property are the primary drivers of competitiveness in todays global economy. Governments, research organizations, and private corporations are sponsoring projects to develop the area of intangible assets. Different tools are being developed to handle intangibles. such as strategic approaches like the business scorecard or management frameworks, or financial perspectives dealing with real options or value based approaches. A significant problem people face when they first delve into this area is that the definitions are not clear and neither are the boundaries. This is, to a large extent, due to the multidimensional nature of the topic. research. The result is little cross-fertilization of ideas and concepts. Thus, although the concept of intellectual capital is truly multidisciplinary, there is little agreement and significant confusion concerning its nature, available tools, their usage, as well as the extent to which such tools are applied in organizations. Perspectives on Intellectual Capital is aimed at addressing exactly these challenges. First, it will bridge the disciplinary gaps and facilitate knowledge transfer across disciplines. Secondly, it will provide an introduction to intangibles for those new to the field. The book offers functional perspectives and therefore a truly comprehensive understanding of what intellectual capital is, what it stands for, what is state of the art in each discipline and where it will go in the future. The book features views on intellectual capital from an accounting, strategy, marketing, human resource management, operations management, information systems, and economics position. perspectives of public policy, knowledge management and epistemology. The final part of the book will extract the key trends and try to create bridges across disciplines in order to open up trajectories for future developments, learning, and practice. The book is structured methodologically, designed to provide a holistic understanding of the field. The structure of each chapter will start with an explanation and a review of the background and development of intellectual capital in relation to the discipline being discussed. It will cover a historic review in order to explore the triggers and reasons why intangibles have become important and above all it will provide definitions and clarify the language used to describe intellectual capital. This part will address the key believes and theoretical foundations on which views on intellectual capital are based. Each chapter will then outline the evolution of theoretical concepts and will give the reader an insight into which theoretical tools and techniques have been developed to manage, measure, or report intangibles. second part is then contrasted with the extent to which these tools and techniques are used by in practice. It will include a selection of best practice examples of how real organizations apply these tools and techniques. This will uncover possible gaps between theory and practice. We expect different gaps for different disciplines, in some theory will lead practice whereas in others theory might lag practice. In this way the reader will see potential for both transfer of theoretical concepts into practice as well as for grounding practical concepts into theory. The final part of each chapter will look to the future. It will try to identify how mature the theme is in each of the disciplinary views and discuss how intellectual capital might develop. In this, the authors seek to identify the major challenges that will need to be addressed in the future and give an outline of possible barriers and enablers.

The main contents and character of the monograph did not change with respect to the first edition. However, within most chapters we incorporated quite a number of modifications which take into account the recent development of the field, the very valuable suggestions and comments that we received from numerous colleagues and students as well as our own experience while using the book. Some errors and misprints in the first edition are also corrected. Reiner Horst May 1992 Hoang Tuy PREFACE TO THE FIRST EDITION The enormous practical need for solving global optimization problems coupled with a rapidly advancing computer technology has allowed one to consider problems which a few years aga would have been considered computationally intractable. As a consequence, we are seeing the creation of a large and increasing number of diverse algorithms for solving a wide variety of multiextremal global optimization problems. The goal of this book is to systematically clarify and unify these diverse approaches in order to provide insight into the underlying concepts and their pro perties. Aside from a coherent view of the field much new material is presented."

At a practical level, mathematical programming under multiple objectives has emerged as a powerful tool to assist in the process of searching for decisions which best satisfy a multitude of conflicting objectives, and there are a number of distinct methodologies for multicriteria decision-making problems that exist. These methodologies can be categorized in a variety of ways, such as form of model (e.g. linear, non-linear, stochastic), characteristics of the decision space (e.g. finite or infinite), or solution process (e.g. prior specification of preferences or interactive). Scientists from a variety of disciplines (mathematics, economics and psychology) have contributed to the development of the field of Multicriteria Decision Making (MCDM) (or Multicriteria Decision Analysis (MCDA), Multiattribute Decision Making (MADM), Multiobjective Decision Making (MODM), etc.) over the past 30 years, helping to establish MCDM as an important part of management science. MCDM has become a central component of studies in management science, economics and industrial engineering in many universities worldwide. Multicriteria Decision Making: Advances in MCDM Models, Algorithms, Theory and Applications aims to bring together state-of-the-art' reviews and the most recent advances by leading experts on the fundamental theories, methodologies and applications of MCDM. This is aimed at graduate students and researchers in mathematics, economics, management and engineering, as well as at practicing management scientists who wish to better understand the principles of this new and fast developing field.