Handbook of Management under Uncertainty

Handbook of Management under Uncertainty
Author: Jaime Gil-Aluja
Publisher: Springer Science & Business Media
Total Pages: 790
Release: 2013-12-01
Genre: Business & Economics
ISBN: 1461302854

A mere few years ago it would have seemed odd to propose a Handbook on the treatment of management problems within a sphere of uncertainty. Even today, on the threshold of the third millennium, this statement may provoke a certain wariness. In fact, to resort to exact or random data, that is probable date, is quite normal and con venient, as we then know where we are going best, where we are proposing to go if all occurs as it is conceived and hoped for. To treat uncertain information, to accept a new principle and from there determined criteria, without being sure of oneself and confiding only in the will to better understand objects and phenomena, constitutes and compromise with a new form of understanding the behaviour of current beings that goes even further than simple rationality. Economic Science and particularly the use of its elements of configuration in the world of management, has imbued several generations with an analytical spirit that has given rise to the elaboration of theories widely accepted by the international scientific community. In this work we are proposing something a little more modest: to use, in the best possible way, data and information that are available for drawing up and applying techniques and instruments that are useful for current reality within the world of businesses and institutions, in an attempt to mislead ourselves as little as possible.

Handbook of the Economics of Risk and Uncertainty

Handbook of the Economics of Risk and Uncertainty
Author: Mark Machina
Publisher: Newnes
Total Pages: 897
Release: 2013-11-14
Genre: Business & Economics
ISBN: 0444536868

The need to understand the theories and applications of economic and finance risk has been clear to everyone since the financial crisis, and this collection of original essays proffers broad, high-level explanations of risk and uncertainty. The economics of risk and uncertainty is unlike most branches of economics in spanning from the individual decision-maker to the market (and indeed, social decisions), and ranging from purely theoretical analysis through individual experimentation, empirical analysis, and applied and policy decisions. It also has close and sometimes conflicting relationships with theoretical and applied statistics, and psychology. The aim of this volume is to provide an overview of diverse aspects of this field, ranging from classical and foundational work through current developments. - Presents coherent summaries of risk and uncertainty that inform major areas in economics and finance - Divides coverage between theoretical, empirical, and experimental findings - Makes the economics of risk and uncertainty accessible to scholars in fields outside economics

Handbook of Uncertainty Quantification

Handbook of Uncertainty Quantification
Author: Roger Ghanem
Publisher: Springer
Total Pages: 0
Release: 2016-05-08
Genre: Mathematics
ISBN: 9783319123844

The topic of Uncertainty Quantification (UQ) has witnessed massive developments in response to the promise of achieving risk mitigation through scientific prediction. It has led to the integration of ideas from mathematics, statistics and engineering being used to lend credence to predictive assessments of risk but also to design actions (by engineers, scientists and investors) that are consistent with risk aversion. The objective of this Handbook is to facilitate the dissemination of the forefront of UQ ideas to their audiences. We recognize that these audiences are varied, with interests ranging from theory to application, and from research to development and even execution.

Handbook of Research on Organizational Sustainability in Turbulent Economies

Handbook of Research on Organizational Sustainability in Turbulent Economies
Author: Perez-Uribe, Rafael Ignacio
Publisher: IGI Global
Total Pages: 428
Release: 2022-04-15
Genre: Business & Economics
ISBN: 1799893022

Organizational sustainability and uncertain economies are key topics for modern organizations. New, updated knowledge about such matters is necessary for companies to ensure they are sufficiently prepared for future crises. Additional research is required in this area as the overall amount of material available is below par. The Handbook of Research on Organizational Sustainability in Turbulent Economies provides theoretical and practical evidence that demonstrates how the integration, adaptation, construction, and application of strategic models, methods, and tools can promote organizational sustainability for economies in situations of uncertainty. Covering topics such as work engagement and sustainable development goals, this major reference work is ideal for academicians, practitioners, policymakers, entrepreneurs, business owners, researchers, instructors, and students.

The Scenario-planning Handbook

The Scenario-planning Handbook
Author: Bill Ralston
Publisher: South Western Educational Publishing
Total Pages: 278
Release: 2006
Genre: Business planning
ISBN:

The primary objective of the book is to provide decisionmakers the insight and means to apply this technique in changing the way they think about and plan for the future. Scenario-based strategy both confronts and deals with uncertainty and leads to a strategy that is focused but resilient, specific but flexible. The handbook guides readers step by step through the sequence and intricacies of a scenario project and the subsequent strategic decision-making. It explains what scenarios are and are not, when they are needed, as well as their uses and benefits. It also deals with cultural and organizational changes that an organization must undertake to maximize the benefits of scenario-based planning.

Risk, Uncertainty and Profit

Risk, Uncertainty and Profit
Author: Frank H. Knight
Publisher: Cosimo, Inc.
Total Pages: 401
Release: 2006-11-01
Genre: Business & Economics
ISBN: 1602060053

A timeless classic of economic theory that remains fascinating and pertinent today, this is Frank Knight's famous explanation of why perfect competition cannot eliminate profits, the important differences between "risk" and "uncertainty," and the vital role of the entrepreneur in profitmaking. Based on Knight's PhD dissertation, this 1921 work, balancing theory with fact to come to stunning insights, is a distinct pleasure to read. FRANK H. KNIGHT (1885-1972) is considered by some the greatest American scholar of economics of the 20th century. An economics professor at the University of Chicago from 1927 until 1955, he was one of the founders of the Chicago school of economics, which influenced Milton Friedman and George Stigler.

Investment under Uncertainty

Investment under Uncertainty
Author: Robert K. Dixit
Publisher: Princeton University Press
Total Pages: 484
Release: 2012-07-14
Genre: Business & Economics
ISBN: 1400830176

How should firms decide whether and when to invest in new capital equipment, additions to their workforce, or the development of new products? Why have traditional economic models of investment failed to explain the behavior of investment spending in the United States and other countries? In this book, Avinash Dixit and Robert Pindyck provide the first detailed exposition of a new theoretical approach to the capital investment decisions of firms, stressing the irreversibility of most investment decisions, and the ongoing uncertainty of the economic environment in which these decisions are made. In so doing, they answer important questions about investment decisions and the behavior of investment spending. This new approach to investment recognizes the option value of waiting for better (but never complete) information. It exploits an analogy with the theory of options in financial markets, which permits a much richer dynamic framework than was possible with the traditional theory of investment. The authors present the new theory in a clear and systematic way, and consolidate, synthesize, and extend the various strands of research that have come out of the theory. Their book shows the importance of the theory for understanding investment behavior of firms; develops the implications of this theory for industry dynamics and for government policy concerning investment; and shows how the theory can be applied to specific industries and to a wide variety of business problems.

Decision Making under Deep Uncertainty

Decision Making under Deep Uncertainty
Author: Vincent A. W. J. Marchau
Publisher: Springer
Total Pages: 408
Release: 2019-04-04
Genre: Business & Economics
ISBN: 3030052524

This open access book focuses on both the theory and practice associated with the tools and approaches for decisionmaking in the face of deep uncertainty. It explores approaches and tools supporting the design of strategic plans under deep uncertainty, and their testing in the real world, including barriers and enablers for their use in practice. The book broadens traditional approaches and tools to include the analysis of actors and networks related to the problem at hand. It also shows how lessons learned in the application process can be used to improve the approaches and tools used in the design process. The book offers guidance in identifying and applying appropriate approaches and tools to design plans, as well as advice on implementing these plans in the real world. For decisionmakers and practitioners, the book includes realistic examples and practical guidelines that should help them understand what decisionmaking under deep uncertainty is and how it may be of assistance to them. Decision Making under Deep Uncertainty: From Theory to Practice is divided into four parts. Part I presents five approaches for designing strategic plans under deep uncertainty: Robust Decision Making, Dynamic Adaptive Planning, Dynamic Adaptive Policy Pathways, Info-Gap Decision Theory, and Engineering Options Analysis. Each approach is worked out in terms of its theoretical foundations, methodological steps to follow when using the approach, latest methodological insights, and challenges for improvement. In Part II, applications of each of these approaches are presented. Based on recent case studies, the practical implications of applying each approach are discussed in depth. Part III focuses on using the approaches and tools in real-world contexts, based on insights from real-world cases. Part IV contains conclusions and a synthesis of the lessons that can be drawn for designing, applying, and implementing strategic plans under deep uncertainty, as well as recommendations for future work. The publication of this book has been funded by the Radboud University, the RAND Corporation, Delft University of Technology, and Deltares.

Handbook of the Fundamentals of Financial Decision Making

Handbook of the Fundamentals of Financial Decision Making
Author: Leonard C. MacLean
Publisher: World Scientific
Total Pages: 941
Release: 2013
Genre: Business & Economics
ISBN: 9814417351

This handbook in two parts covers key topics of the theory of financial decision making. Some of the papers discuss real applications or case studies as well. There are a number of new papers that have never been published before especially in Part II.Part I is concerned with Decision Making Under Uncertainty. This includes subsections on Arbitrage, Utility Theory, Risk Aversion and Static Portfolio Theory, and Stochastic Dominance. Part II is concerned with Dynamic Modeling that is the transition for static decision making to multiperiod decision making. The analysis starts with Risk Measures and then discusses Dynamic Portfolio Theory, Tactical Asset Allocation and Asset-Liability Management Using Utility and Goal Based Consumption-Investment Decision Models.A comprehensive set of problems both computational and review and mind expanding with many unsolved problems are in an accompanying problems book. The handbook plus the book of problems form a very strong set of materials for PhD and Masters courses both as the main or as supplementary text in finance theory, financial decision making and portfolio theory. For researchers, it is a valuable resource being an up to date treatment of topics in the classic books on these topics by Johnathan Ingersoll in 1988, and William Ziemba and Raymond Vickson in 1975 (updated 2 nd edition published in 2006).