DECISIONAL MODEL UNDER UNCERTAINITY CONDITIONS

Camelia Catalina Mihalciuc (), Veronica Grosu () and Alina Musteata ()
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Camelia Catalina Mihalciuc: Stefan cel Mare University of Suceava, Romania
Veronica Grosu: Stefan cel Mare University of Suceava, Romania
Alina Musteata: Stefan cel Mare University of Suceava, Romania

The USV Annals of Economics and Public Administration, 2018, vol. 18, issue 1(27), 120-127

Abstract: The notions of risk and uncertainty are the subject of countless studies and specialized papers, being treated by both Romanian and foreign researchers, whose considerations have been taken as reference in the realization of the theoretical and methodological basis of this paper.Unforeseen events influence the present and the future results of businesses, the risk being part of their economic life. In order to have successful businesses, managers need to learn how to manage the risks to which societies are subjected, to understand them, and to prevent them. Starting from the approached subject, the scientific demarche of this paper begins with the identification of a decisional model that highlights the idea that the variability of the results is imprinted, on the one hand, by the decision of the decision-maker and by the eventualities (uncontrollable elements), therefore under uncertainty the result of a decision will have both a part that can be controlled and a part that cannot be controlled.

Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:scm:usvaep:v:18:y:2018:i:1(27):p:120-127

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