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Computer Based Prescriptive Support: a study about decision making under risk
Mid Sweden University, Faculty of Science, Technology and Media, Department of Information Technology and Media.
Responsible organisation
2006 (English)In: Proceedings of IMECS 2006, 2006, 23-28 p.Conference paper, (Other academic)
Abstract [en]

This paper focuses on managerial decision making under risk and uncertainty. Since no one, so far, has studied managers' risk attitudes in parallel with their actual behavior when handling risky prospects the area still remains relatively murky. Interviews have been done with 12 managers in the Swedish forest industry concerning how they define risk, how they handle risk, how they make risky decisions, and how the organizational context affects the decision-making process. Problems that have been identified in this study are the lack of information and precise objective data, that risk and probability estimations made by the managers are often based on inadequate information and intuition, that no formal analysis is carried out, that no computer based decision tools are used in the decision making processes, and therefore most decisions are based on intuition and gut feeling.

Place, publisher, year, edition, pages
2006. 23-28 p.
Keyword [en]
Managerial decision making, risk taking; decision making; computer based decision tools
National Category
Information Science
Identifiers
URN: urn:nbn:se:miun:diva-1164ISI: 000241357500005Scopus ID: 2-s2.0-84888225109Local ID: 3305ISBN: 988-986713-3 (print)OAI: oai:DiVA.org:miun-1164DiVA: diva2:26196
Conference
International Multiconference of Engineers and Computer Scientists, Jun 20-22, 2006, Kowloon, China
Available from: 2008-09-30 Created: 2008-09-30 Last updated: 2016-09-26Bibliographically approved

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CiteExportLink to record
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Citation style
  • apa
  • harvard1
  • ieee
  • modern-language-association-8th-edition
  • vancouver
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More styles
Language
  • de-DE
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  • en-US
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  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
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Output format
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  • text
  • asciidoc
  • rtf