Abstract
Decision analysis refers to the various operational methods used by management for the efficient running of an enterprise. Very broadly viewed it may involve considerations of long range corporate planning and the suitability of alternative organization structures; very narrowly it may specify a linear programming model to determine an optimal output-mix which maximizes company profits. From a practical standpoint the decision analysis in management science and operations research deal with three broad groups of methods or models:
-
A.
Optimization models usually under constraints e.g. linear programming (LP) model.
-
B.
Stochastic systems usually with no explicit optimizing objective e.g., queing models.
-
C.
Stochastic optimization in a dynamic system e.g., production-inventory control problem over time.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
References
Sengupta, J.K. Decision Models in Stochastic Programming. North Holland: Amsterdam, 1982.
Kolbin, V.V. Stochastic Programming. Reidel Publishing: Dordrecht, Holland, 1977.
Owen, G. Game Theory. Academic Press: New York, 1982.
Hillier, F.S. and G.L. Lieberman. Operations Research. Holden-Day: San Francisco,
Baumol, W.J. Economic Theory and Operations Analysis. Prentice Hall: Englewood Cliffs, New Jersey, 1977.
Bunn, D. Analysis for Optimal Decisions. New York: John Wiley, 1982.
Zukhovitskiy, S.I. and L.I. Avdeyeva. Linear and Convex Programming. London: W.B. Saunders, 1966.
Howard, R.A. Dynamic Programming and Markov Processes. Cambridge, Massachusetts: MIT Press, 1960.
Vajda, S. Probabilistic Programming. New York: Academic ress, 1972.
Lange, O. Optimal Decisions: Principles of Programming. Oxford: Pergamon Press, 1971.
Murata, Y. Optimal Control Methods for Linear Discrete-Time Economic Systems. New York: Springer-Verlag, 1982.
Sengupta, J.K. Information and Efficiency in Economic Decisions. Hague ( The Netherlands ): Martinus Nijhoff Publishers, 1984.
Author information
Authors and Affiliations
Rights and permissions
Copyright information
© 1985 Springer-Verlag Berlin Heidelberg
About this chapter
Cite this chapter
Sengupta, J.K. (1985). Decision Analysis in Management: Methods and Models. In: Optimal Decisions Under Uncertainty. Universitext. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-70163-4_2
Download citation
DOI: https://doi.org/10.1007/978-3-642-70163-4_2
Publisher Name: Springer, Berlin, Heidelberg
Print ISBN: 978-3-540-15032-9
Online ISBN: 978-3-642-70163-4
eBook Packages: Springer Book Archive