System Dynamics Applications

DECISION (DECISION EVENT)


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System Dynamics Glossary

What is the meaning of Decision (decision event)?

A decision is made, or a decision event occurs, when the decision-maker (generally a single individual) surveys a known and fixed set of alternatives, weighs the likely consequences of choosing each, and makes a choice. [In an ideal situation], the decision maker evaluates the options in terms of a set of goals, purposes, or values that are stable over time, and that he or she knows quite clearly (Klein, Orasanu, Calderwook and Zsambok, 1993: 5).

Books Related to Decision (decision event)

James Surowiecki, "The Wisdom of Crowds: Why the Many Are Smarter Than the Few and How Collective Wisdom Shapes Business, Economies, Societies and Nations".
     —More information on The Wisdom of Crowds: Why the Many Are Smarter Than the Few and How Collective Wisdom Shapes Business, Economies, Societies and Nations

Elinor Ostrom, Randall Calvert and Thrainn Eggertsson, "Governing the Commons : The Evolution of Institutions for Collective Action (Political Economy of Institutions and Decisions)".
     —More information on Governing the Commons : The Evolution of Institutions for Collective Action (Political Economy of Institutions and Decisions)


 

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Books related to Decision (decision event)