Basics of Decision-Making Theory (SPbSTU Press, 2002)

Overview of the Decision-Making Theory lecture course for B.A. and M.A. graduate students of Management Department of University. A new method of teaching is presented which includes formulating and solving of inverse problems, i.e. providing the proof that given alternative is optimal. Students are given the opportunity to learn about basic stages of modeling and making decision processes, and, what is the most important, about the inherent limitations of quantitative and formalized methods in economics. This approach is systematically used for conducting training classes which allows the student to avoid many common mistakes and delusions related with applicability of mathematical methods in economics and business.

O. Y. Uritskaya. Basic Principles of the Decision-Making Theory // Methods and Practice in the Education.– St.Petersburg: SPbSTU Press, 2002. – p.151 –153.

 Full text (in Russian)

Basics_of_Decision_making_Theory_Fig_1

Fig. 1. Decision making process is most sensitive to the information that’s why classification of Decision making models by this criterion seems most universal.

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