Harvey J. Langholtz – författare

In today's data-driven world, this book offers clear, accessible guidance on the logical foundations of optimal decision making. It introduces essential tools for decision analysis and explores psychological theories that explain how people make decisions in both professional and personal contexts. Using real-world examples, the book covers topics such as decision making under uncertainty, decision trees, strategies of risk management, decisions that are gambles, heuristics, trade-offs, decision making under stress, game theory, decision making in a dispute or conflict, and multi-attribute decision analysis. Readers will identify common decision traps and learn how to avoid them, understand the causes of indecisiveness and find out how to deal with it, gain insights into their own decision-making processes, and build confidence in their ability to make and defend informed decisions across a range of scenarios.

In today's data-driven world, this book offers clear, accessible guidance on the logical foundations of optimal decision making. It introduces essential tools for decision analysis and explores psychological theories that explain how people make decisions in both professional and personal contexts. Using real-world examples, the book covers topics such as decision making under uncertainty, decision trees, strategies of risk management, decisions that are gambles, heuristics, trade-offs, decision making under stress, game theory, decision making in a dispute or conflict, and multi-attribute decision analysis. Readers will identify common decision traps and learn how to avoid them, understand the causes of indecisiveness and find out how to deal with it, gain insights into their own decision-making processes, and build confidence in their ability to make and defend informed decisions across a range of scenarios.

Despite the increasing necessity for information on allocating dwindling resources, resource-allocation behaviour is not nearly so well understood as choice behaviour (selection from two or more already defined alternatives, events or lotteries.) Rather than discussing the optimal model for making resource-allocation decisions this text examines the cognitive aspects of this behaviour. This book answers the question of how people make such decisions while explaining how linear programming can be applied within the context of resource-allocation. It also takes the reader step-by-step into several types of problems under varying conditions, including harsh and benign environments, maximization and minimization, multi-dimensional and cyclical problems.