Decision-Making Rules and the Influence of Memory Data

Vaclav Beran, Marek Teichmann and Frantisek Kuda
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Vaclav Beran: Department of Economics, Faculty of Economics, University of South Bohemia in Ceske Budejovice, Studentska 13, 370 05 Ceske Budejovice, Czech Republic
Marek Teichmann: Department of Urban Engineering, Faculty of Civil Engineering, VSB—Technical University of Ostrava, Ludvika Podeste 1875/17, 708 00 Ostrava-Poruba, Czech Republic
Frantisek Kuda: Department of Urban Engineering, Faculty of Civil Engineering, VSB—Technical University of Ostrava, Ludvika Podeste 1875/17, 708 00 Ostrava-Poruba, Czech Republic

Sustainability, 2021, vol. 13, issue 3, 1-18

Abstract: The problems that decision-makers face can escalate under imbalances, turbulent development, risks, uncertainties, disasters, and other influences. The development of processes in technical and economic structures is generally considered complex and chaotic, and it usually expands into innumerable dynamic influences. The paper focuses on the evaluation of the decision criteria choice structure, such as the factual cause of the consequences (e.g., future threats, opportunities, chances, occasion). It offers a graphical vision of the future forecast. It draws attention to prevention and prophylaxis versus criterion-generated time–space (TS). The paper deals with the question: Is it possible to choose and recommend the right time and place of process activities? The paper formulates a positive answer and illustrates a range of consequences. Developed activities (investment, production, etc.) take place in a defined TS; over time, they create new time-series states and expand the space by defining processes as a time series of activities. In a broader context, the article deals with the issue of the lifecycle of decision rules (dynamic proposal of opportunities) as the first step of decision making, i.e., the decision about the existence of opportunity. On the one hand, it respects static applications based on equilibrium states, while on the other hand, it draws attention to the need for a dynamic view of turbulent, dynamic, chaotic, and nonlinear phenomena.

Keywords: decision making; decision rules; data memory; decision opportunity; utility; decision space; cellular automata (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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