Decision Sciences

Decision-making is a cognitive process stemming from the analysis of available courses of action related to a given problem. Rationally, potential courses of action are derived from deliberate analysis of available data related to a problem and its potential outcomes. Decisions are generally characterized as normative, descriptive or naturalistic. Normative decisions are based on evidence, logic and analysis; descriptive decisions are based on intuition and experience. Naturalistic decisions are formed as a hybrid of normative and descriptive processes.

For decision-makers the revolution in information technology and the amount and scope of the data they provide has become overwhelming, leading to cognitive overload, confusion and an inability to function effectively. Decision Support Systems (DSS) facilitate data analysis and selection of a viable course of action rapidly and effectively. However, like the human decision- makers they serve, DSS capabilities may also suffer from cognitive overload, inaccuracy, and complexity, especially in time-sensitive environments.

This study explores DSS employment for time-sensitive decision processes using Digitally Aided Close Air Support (DACAS) as a model. The study explores decision theory, models, DSS development and time-sensitive environments. Using DACAS as a model the paper reveals the obstacles and opportunities associated with the employment of DSS for time- sensitive processes. Finally, the study makes recommendations for improved employment of DSS in time-sensitive environments.

Some of Law and Economics’ basic claims have come to be criticized as a result of empirical findings that question their viability. Particularly, the premise that agents consistently act rationally and with their self-interest in mind seems problematic. What the consequences of the criticism mean for Law and Economics’ tenability depends largely on the questions whether (1) some elements are unassailable to the alternative’s objections and (2) the alternative is a systematic whole. It is argued that Law and Economics may be salvaged, if it is minimized and its ambitions are tempered. This means focusing on the stable, a priori, elements inherent to it.

The purpose of the current study was to determine whether brand name can affect the public's evaluation of a product. All subjects smoked identical cigarettes. One group of subjects, however, knew the cigarettes by the name of “Frontiersman,” a masculine name, while the other group knew the cigarettes as “April,” a feminine name. Male and female subjects were asked to rate the cigarette on seven measures. Results show that women gave a more positive evaluation to the cigarette purportedly named “April,” while men gave a more positive evaluation to the identical cigarette when they thought it was named “Frontiersman.” In addition, women reacted more strongly than did men to brand name influence.

... In particular, environments that elicit feelings of pleasure are likely to be ones where ... a predictable pattern of emotional scripts along the dimensions of pleasantness, arousal, and power ... Customers' evaluations of physical context play a significant role in customer's evaluation of ...

This paper examines the effect of product endorsement claims on a consumer's decision making processes. A simulated endorsement claim was made for a product after which a consumer was presented with the product. Endorsements tested were the three most common types in ...

The standard approach to inventory policy ignores the effect of inflation. This paper investigates a model that includes both inflationary trends and time discounting. The paper compares this model with the standard EOQ model and the analysis for a one-time change, found in previous literature.

There have been many applications of the maximal covering location problem (MCLP). An underlying assumption of the MCLP is that demand not covered (i.e., not within a prespecified maximal distance of a facility) is not served. This may be an unrealistic assumption in many location planning scenarios, especially in the public sector. For example, in cases such as fire protection or ambulance service, calls not technically covered will still be serviced. The MCLP, however, does not consider the distances or travel times necessary to service such demand.This paper presents a bicriterion locational covering model which explicitly considers the travel distance or time necessary to service demand not within the maximal covering distance of a facility. The model may be used to generate noninferior (Pareto optimal) siting configurations which demonstrate the inherent trade-offs between a siting scheme designed to maximize total coverage and one designed to minimize total travel time for uncovered demand to reach its nearest facility. In addition, it is shown that for any particular weighting scheme on the two objectives, the problem can be solved as a p-median problem; a problem for which several efficient solution methods exist.

This paper reviews the current Corona virus situation, then examines the legal definitions of negligence and fiduciary duty in an attempt to determine whether closing a university because of health concerns over the Corona virus might result in legal liability for the university's board members and relevant university administrators.

... The problem of controlling this flow so that summary information is reliable is central to any system of accounting ... The responsibility for developing an effective AIC system rests with the firm ... This responsibility might be fixed with executives from the controllership, internal auditing. ...

This comment is part of a comprehensive study to develop a contingency model of simulation success. The current study focuses on the psychometric stability of the end-user computing satisfaction (EUCS) instrument by Doll and Torkzadeh (1988) when applied to users of computer simulation. Using a survey of 411 users, the researchers provide evidence that the EUCS instrument is a valid and reliable measure of computer simulation success. Given this evidence, managers and simulation software product developers can confidently apply the instrument in the investigation of competing tools, features, and technologies.

Trust is a vital relationship concept that needs further conceptual analysis, not just empirical testing. Trust has been defined in so many ways by so many different researchers across disciplines that a typology of the various types of trust is sorely needed. This paper ...

Thirty empirically assessed utility functions on changes in wealth or return on investment were examined for general features and susceptability to fits by linear, power, and exponential functions. Separate fits were made to below-target data and above-target data. The usual “target” was the no-change point.The majority of below-target functions were risk seeking; the majority of above-target functions were risk averse; and the most common composite shape was convex-concave, or risk seeking in losses and risk averse in gains. The least common composite was concave-concave. Below-target utility was generally steeper than above-target utility with a median below-to-above slope ratio of about 4.8. The power and exponential fits were substantially better than the linear fits. Power functions gave the best fits in the majority of convex below-target and concave above-target cases, and exponential functions gave the best fits in the majority of concave below-target and convex above-target cases. Several implications of these results for decision making under risk are mentioned.

This paper presents a normative, multidisciplinary approach for evaluating market entry strategies with concern for the effects of spatial assumptions on performance expectations. An assessment framework is linked to a series of models that show the value of adding spatial and competitive perspectives to typical baseline conceptualizations of market opportunity. Criteria for assessing market attractiveness are discussed with special concern for the problems of field service firms whose market boundaries are not limited by fixed facility locations. The problem is conceptualized as the managerial decision to locate a new brokerage office in a highly competitive regional market area. Realistic constraints are established by focusing the market entry decision through aggregate data from secondary sources that are readily available to an outsider who had not been active in the geographic markets considered. A simple model based on market potential is progressively enhanced with spatially adjusted measures of market attractiveness and competitive resistance. Empirical tests highlight the impact of alternative model formulations and choice criteria on the decision-making process.

This paper examines the effect of product endorsement claims on a consumer's decision making processes. A simulated endorsement claim was made for a product after which a consumer was presented with the product. Endorsements tested were the three most common types in use: celebrity, expert, and typical consumer, with two control groups for experimental design. Three scales of measurement were used to assess the effect of the endorsement: a consumer's intent to purchase, his overall attitude towards the product, and his expected price of the product. The results show the strength of celebrity and typical consumer endorsers. They also show that the endorser effect is dramatically weaker than hypothesized. The Lavidge-Steiner hierarchy of advertising effects model is introduced in an attempt to explain this phenomenon. Guidelines for further research are provided.

The Ordinal Priority Approach (OPA) is a new development in multiple-attribute decision-making context. The OPA can calculate the weights and the ranks of the experts, alternatives, and attributes simultaneously using simple steps. It supports group decision-making without using averaging methods. This software can help you to solve multiple-attribute decision-making problems using the OPA after a few clicks. It is available on my website at http://www.ordinalpriorityapproach.com.

Prior research has provided valuable insights into how and why employees make a decision about the adoption and use of information technologies (ITs) in the workplace. From an organizational point of view, however, the more important issue is how managers make informed decisions about interventions that can lead to greater acceptance and effective utilization of IT. There is limited research in the IT implementation literature that deals with the role of interventions to aid such managerial decision making. Particularly, there is a need to understand how various interventions can influence the known determinants of IT adoption and use. To address this gap in the literature, we draw from the vast body of research on the technology acceptance model (TAM), particularly the work on the determinants of perceived usefulness and perceived ease of use, and: (i) develop a comprehensive nomological network (integrated model) of the determinants of individual level (IT) adoption and use; (ii) empirically test the proposed integrated model; and (iii) present a research agenda focused on potential pre- and postimplementation interventions that can enhance employees' adoption and use of IT. Our findings and research agenda have important implications for managerial decision making on IT implementation in organizations.

The concept of marketing literature, especially innovation diffusion concept, plays a pivotal role in developing EOQ models in the field of inventory management. The integration of marketing parameters, especially the idea of diffusion of new products with the inventory models, makes the models more realistic which is most essential while building the economic ordering policies of the products. Also, because of rapid technological development, the diffusion of technology can also be viewed as an evolutionary process of replacement of an old technology by a new one. Therefore, the effect of technological substitution along with the diffusion of new products must be taken into account while formulating economic ordering policies in an inventory model. In this paper, a mathematical model has been developed for obtaining the Economic Order Quantity (EOQ) in which the demand of the product is assumed to follow an innovation diffusion process as proposed by Fourt and WoodLock (1960). The ...

Information technology (IT) a common and costly problem. While much is known about the factors that promote escalation behavior, little is known about the actual escalation process. This article uses an in-depth case study to construct a process model of escalation, consisting of three phases: drift, unsuccessful incremental adaptation, and rationalized continuation. Each phase encompasses several within-phase escalation catalysts and the model also identifies triggering conditions that promote transition from one phase to the next: project framing (antecedent condition), problem emergence, increased problem visibility, and imminent threat to project continuation (triggering the outcome deescalation). The results show that escalation is not necessarily the result of collective belief in the infallibility of a project. Rather, escalation results from continued unsuccessful coping with problems that arise during a project. Furthermore, the results suggest that the seeds of escalation are sown early: the very manner in which a project is framed contributes to whether or not the project will become prone to escalation. As problems ensue, repeated mismatches between attempted remedies and underlying problems contribute to fueling the escalation process. Implications for research and practice are discussed.