Complex Decision Making

Theory and Practice

By: Hassan QudratUllah, ?J. Michael Spector, ?Paal Davidsen

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eText | 22 September 2007 | Edition Number 1

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The increasingly complex environment of today's world, characterized by technological innovation and global communication, generates myriads of possible and actual interactions while limited physical and intellectual resources severely impinge on decision makers, be it in the public or private domains. At the core of the decision-making process is the need for quality information that allows the decision maker to better assess the impact of decisions in terms of outcomes, nonlinear feedback processes and time delays on the performance of the complex system invoked. This volume is a timely review on the principles underlying complex decision making, the handling of uncertainties in dynamic envrionments and of the various modeling approaches used. The book consists of five parts, each composed of several chapters: I: Complex Decision Making: Concepts, Theories and Empirical EvidenceII: Tools and Techniques for Decision Making in Complex Environments and SystemsIII: System Dynamics and Agent-Based ModelingIV: Methodological IssuesV: Future Directions