This volume collects research papers addressing topical issues in economics and management with a particular focus on dynamic models which allow to analyze and foster the decision making of firms in dynamic complex environments. The scope of the contributions ranges from daily operational challenges firms face to strategic choices in dynamic industry environments and the analysis of optimal growth paths. The volume also highlights recent methodological developments in the areas of dynamic optimization, dynamic games and meta-heuristics, which help to improve our understanding of (optimal) decision making in a fast evolving economy.
A comprehensive analysis of the macroeconomic and financial forces altering the economic landscape Financial decision-making requires one to anticipate how their decision will not only affect their business, but also the economic environment. Unfortunately, all too often, both private and public sector decision-makers view their decisions as one-off responses and fail to see their decisions within the context of an evolving decision-making framework. In Decision-Making in a Dynamic Economic Setting, John Silvia, Chief Economist of Wells Fargo and one of the top 5 economic forecasters according to Bloomberg News and USA Today, skillfully puts this discipline in perspective. Details realistic, decision-making approaches and applications under a broad set of economic scenarios Analyzes monetary policy and addresses the impact of financial regulations Examines business cycles and how to identify economic trends, how to deal with uncertainty and manage risk, the building blocks of growth, and strategies for innovation Decision-Making in a Dynamic Economic Setting details the real-world application of economic principles and financial strategy in making better business decisions.
"GRASPED Decision Dynamics" presents a nuanced exploration of enhancing decision-making speed without sacrificing accuracy. It dives into strategies for practicing quick decision-making in low-pressure situations, drawing parallels with professional athletes' training methods. The book offers insights into creating decision-making drills, the power of self-feedback, and the importance of commitment to choices. It also addresses rational decision-making by removing emotions from the equation and simplifies decision-making processes through practical methods like the Coin Flip Approach. The unique selling proposition of "GRASPED Decision Dynamics" is its comprehensive approach to accelerating decision-making processes across various contexts. It uniquely combines psychological insights, practical exercises, and real-world applications to empower readers to make swift, effective decisions. By focusing on both the mechanics of quick decision-making and the mental resilience needed to commit to those decisions, this book stands out as an essential guide for anyone looking to enhance their decision-making skills in personal and professional spheres. "GRASPED Decision Dynamics" starts with an invitation to readers to evaluate their decision-making processes, highlighting the benefits of making quicker, yet informed decisions. It lays the foundation for understanding the importance of swift decision-making in enhancing efficiency and productivity in one's personal and professional life.
In Dynamic Decision Making in Chess former World Championship Challenger Boris Gelfand continues his investigation into decision-making at the top level, discussing some of his best games as well as his worst slips, giving the reader a unique insight into the mind of a world-class grandmaster.
"This book describes a holistic approach to monitoring, evaluating, and applying appropriate marketing strategies, and understanding the competition and its future implication on the business of a company"--Provided by publisher.
This book will help you understand how to integrate data-based decisions into the daily work of the school. It is a practical and relevant handbook for converting data into wise decision-making and planning. It will give you the skills to successfully make data-based decisions, measure student learning and program effectiveness, evaluate student progress, use data to improve instruction, integrate a "Dynamic Planning" process into the daily operation of your school.
Brian Skyrms constructs a theory of "dynamic deliberation" and uses it to investigate rational decisionmaking in cases of strategic interaction. This illuminating book will be of great interest to all those in many disciplines who use decision theory and game theory to study human behavior and thought. Skyrms begins by discussing the Bayesian theory of individual rational decision and the classical theory of games, which at first glance seem antithetical in the criteria used for determining action. In his effort to show how methods for dealing with information feedback can be productively combined, the author skillfully leads us through the mazes of equilibrium selection, the Nash equilibria for normal and extensive forms, structural stability, causal decision theory, dynamic probability, the revision of beliefs, and, finally, good habits for decision. The author provides many clarifying illustrations and a handy appendix called "Deliberational Dynamics on Your Personal Computer." His powerful model has important implications for understanding the rational origins of convention and the social contract, the logic of nuclear deterrence, the theory of good habits, and the varied strategies of political and economic behavior.
In Technical Decision Making in Chess former World Championship Challenger Boris Gelfand discusses his path to decision making in endgames and positions where one side possesses a structural or material advantage. This investigation into a top Grandmaster's technical understanding will illuminate difficult parts of the game that many players find elusive. Concepts like the "Zone of one mistake" are certain to be a revelation to many.
The availability of today’s online information systems rapidly increases the relevance of dynamic decision making within a large number of operational contexts. Whenever a sequence of interdependent decisions occurs, making a single decision raises the need for anticipation of its future impact on the entire decision process. Anticipatory support is needed for a broad variety of dynamic and stochastic decision problems from different operational contexts such as finance, energy management, manufacturing and transportation. Example problems include asset allocation, feed-in of electricity produced by wind power as well as scheduling and routing. All these problems entail a sequence of decisions contributing to an overall goal and taking place in the course of a certain period of time. Each of the decisions is derived by solution of an optimization problem. As a consequence a stochastic and dynamic decision problem resolves into a series of optimization problems to be formulated and solved by anticipation of the remaining decision process. However, actually solving a dynamic decision problem by means of approximate dynamic programming still is a major scientific challenge. Most of the work done so far is devoted to problems allowing for formulation of the underlying optimization problems as linear programs. Problem domains like scheduling and routing, where linear programming typically does not produce a significant benefit for problem solving, have not been considered so far. Therefore, the industry demand for dynamic scheduling and routing is still predominantly satisfied by purely heuristic approaches to anticipatory decision making. Although this may work well for certain dynamic decision problems, these approaches lack transferability of findings to other, related problems. This book has serves two major purposes: ‐ It provides a comprehensive and unique view of anticipatory optimization for dynamic decision making. It fully integrates Markov decision processes, dynamic programming, data mining and optimization and introduces a new perspective on approximate dynamic programming. Moreover, the book identifies different degrees of anticipation, enabling an assessment of specific approaches to dynamic decision making. ‐ It shows for the first time how to successfully solve a dynamic vehicle routing problem by approximate dynamic programming. It elaborates on every building block required for this kind of approach to dynamic vehicle routing. Thereby the book has a pioneering character and is intended to provide a footing for the dynamic vehicle routing community.
A Journey Through the Science of Choices Have you ever found yourself paralyzed by the sheer number of decisions you face each day? From trivial choices to life-altering ones, our lives are a constant stream of decisions. Delve deep into the fascinating world of decision-making and discover the hidden mechanisms that drive your choices. "The Decision Dilemma: Unraveling the Science of Choices" invites you on an exploratory odyssey through the intricacies of the human mind and its decision-making prowess. Whether you're curious about the neurological foundations of your choices or how emotions sway your decisions, this comprehensive guide illuminates the complexity behind every choice. Imagine understanding the principles behind cognitive biases like the anchoring effect and confirmation bias, helping you to recognize and overcome inherent mental shortcuts that often lead to flawed decisions. See how social influences, from peer pressure to groupthink dynamics, subtly shape your choices, often without you realizing it. In times of crisis or uncertainty, learn how to harness effective decision strategies. Discover the art of strategic planning in business decisions, explore ethical frameworks for moral dilemmas, and grasp the impactful role of digital tools and AI in modern decision making. Want to break bad habits or improve your long-term planning? This book offers practical cognitive-behavioral strategies to enhance your decision-making skills. Chapter by chapter, this insightful text demystifies the processes and influences on decision making, offering you the tools to build better habits, make more informed choices, and ultimately lead a more fulfilling life. Take the first step towards mastering the art of decision making – your future self will thank you.
