A Study Of Business Decisions Under Uncertainty
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Uncertainty and Business Decisions
Author | : Charles Frederick Carter |
Publsiher | : Liverpool, U.P |
Total Pages | : 178 |
Release | : 1962 |
Genre | : Decision making |
ISBN | : WISC:89033917154 |
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Uncertainty and business decisions
Author | : Charles Frederick Carter |
Publsiher | : Unknown |
Total Pages | : 180 |
Release | : 1957 |
Genre | : Electronic Book |
ISBN | : STANFORD:20500919157 |
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A Study of Business Decisions Under Uncertainty
Author | : Andreas Stark |
Publsiher | : Universal-Publishers |
Total Pages | : 408 |
Release | : 2010-07 |
Genre | : Business & Economics |
ISBN | : 9781599423494 |
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This dissertation will discuss the uncertainty encountered in the daily operations of businesses. The concepts will be developed by first giving an overview of probability and statistics as used in our everyday activities, such as the basic principles of probability, univariate and multivariate statistics, data clustering and mapping, as well as time sequence and spectral analysis. The examples used will be from the oil and gas exploration industry because the risks taken in this industry are normally quite large and are ideal for showing the application of the various techniques for minimizing risk. Subsequently, the discussion will deal with basic risk analysis, spatial and time variations of risk, geotechnical risk analysis, risk aversion and how it is affected by personal biases, and how to use portfolios to hedge risk together with the application of real options. Next, fractal analysis and its application to economics and risk analysis will be examined, followed by some examples showing the change in the Value at Risk under Fractal Brownian Motions. Finally, a neural network application is shown whereby some of these risks and risk factors will be combined to forecast the best possible outcome given a certain knowledge base. The chapters will discuss: Basic probability techniques and uncertainty principles Analysis and diversification for exploration projects The value and risk of information in the decision process Simulation techniques and modeling of uncertainty Project valuation and project risk return Modeling risk propensity or preference analysis of exploration projects Application of fractals to risk analysis Simultaneous prediction of strategic risk and decision attributes using multivariate statistics and neural networks"
Decision Making Under Uncertainty
Author | : David E. Bell,Arthur Schleifer |
Publsiher | : Thomson South-Western |
Total Pages | : 228 |
Release | : 1995 |
Genre | : Business & Economics |
ISBN | : UOM:39015051990615 |
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These authors draw on nearly 50 years of combined teaching and consulting experience to give readers a straightforward yet systematic approach for making estimates about the likelihood and consequences of future events -- and then using those assessments to arrive at sound decisions. The book's real-world cases, supplemented with expository text and spreadsheets, help readers master such techniques as decision trees and simulation, such concepts as probability, the value of information, and strategic gaming; and such applications as inventory stocking problems, bidding situations, and negotiating.
Uncertainty in Strategic Decision Making
Author | : Richard J. Arend |
Publsiher | : Springer Nature |
Total Pages | : 466 |
Release | : 2024-01-03 |
Genre | : Business & Economics |
ISBN | : 9783031485534 |
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Knight (1921) defines uncertainty as an informational market failure that, while being detrimental to most existing businesses, presents possible profitable opportunities for others. This book builds upon that classic work by providing an analysis of the alternative approaches to strategic decision-making under such uncertainty. It covers what uncertainty is, why it is important, and what connections it has to business and related fields, culminating in a new and comprehensive typology and a valuable guide for how to appropriately address various types of uncertainties, even under AI. It clarifies the current terminological and categorical confusion about ‘unknowns’ while complementing the mathematical, probability-based approaches that treat uncertainty as ‘knowable’ (i.e., as risk). It corrects the mistaken approaches that treat ‘unknowables’ as ‘shapeable’ or ‘discoverable’. This book widens the perspective for viewing uncertainty, in terms of its impacts across humanity, by offering a shrewder understanding of what roles uncertainties play in human activity. It will appeal to academics across business, economics, philosophy, and other disciplines looking for approaches to apply, test, and hone for dealing with decision-making under uncertainty.
Managerial Decisions Under Uncertainty
Author | : Bruce F. Baird |
Publsiher | : John Wiley & Sons |
Total Pages | : 546 |
Release | : 1991-01-16 |
Genre | : Business & Economics |
ISBN | : 0471858919 |
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How to improve decision-making skills in realistic situations and do it in a reasonably nonmathematical fashion. Develops practical techniques for deciding upon the best strategies in a variety of situations. Provides methods for reducing complex problems to easily-drawn decision diagrams (trees), supported by real-world examples. Includes detailed cases that employ the methods described in the text. Each chapter contains illustrative examples and exercises.
Completing the Forecast
Author | : National Research Council,Division on Earth and Life Studies,Board on Atmospheric Sciences and Climate,Committee on Estimating and Communicating Uncertainty in Weather and Climate Forecasts |
Publsiher | : National Academies Press |
Total Pages | : 124 |
Release | : 2006-10-09 |
Genre | : Science |
ISBN | : 9780309180535 |
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Uncertainty is a fundamental characteristic of weather, seasonal climate, and hydrological prediction, and no forecast is complete without a description of its uncertainty. Effective communication of uncertainty helps people better understand the likelihood of a particular event and improves their ability to make decisions based on the forecast. Nonetheless, for decades, users of these forecasts have been conditioned to receive incomplete information about uncertainty. They have become used to single-valued (deterministic) forecasts (e.g., "the high temperature will be 70 degrees Farenheit 9 days from now") and applied their own experience in determining how much confidence to place in the forecast. Most forecast products from the public and private sectors, including those from the National Oceanographic and Atmospheric Administration's National Weather Service, continue this deterministic legacy. Fortunately, the National Weather Service and others in the prediction community have recognized the need to view uncertainty as a fundamental part of forecasts. By partnering with other segments of the community to understand user needs, generate relevant and rich informational products, and utilize effective communication vehicles, the National Weather Service can take a leading role in the transition to widespread, effective incorporation of uncertainty information into predictions. "Completing the Forecast" makes recommendations to the National Weather Service and the broader prediction community on how to make this transition.
Planning on Uncertainty
Author | : Ruth Prince Mack |
Publsiher | : John Wiley & Sons |
Total Pages | : 264 |
Release | : 1971 |
Genre | : Business & Economics |
ISBN | : STANFORD:36105033812483 |
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