The Role of Information Feedback in the Management Group Decision-Making Process Applying System Dynamics Models

Andrej Škraba (), Miroljub Kljajić and Mirjana Kljajić Borštnar
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Andrej Škraba: University of Maribor
Miroljub Kljajić: University of Maribor
Mirjana Kljajić Borštnar: University of Maribor

Group Decision and Negotiation, 2007, vol. 16, issue 1, No 5, 77-95

Abstract: Abstract The research project addresses the influence of feedback information on the decision process supported by the application of system dynamics models. A user-friendly application was developed and used in the experiment with decision groups. The participants were 174 undergraduate management science students. They had the task of determining the optimum business strategy by maximizing the multiple criteria function under three experimental conditions: a 1) an indivIDual decision process without the support of a system dynamics model, a 2) an indivIDual decision process supported by a system dynamics model, and a 3) a decision process supported by a system dynamics model and subject interaction via computer mediation. The hypotheses that the indivIDual decision process supported by a system dynamics model yields higher Criteria Function values than one without a system dynamics model, as well as the decision process supported by both a system dynamics model and subject interaction yields higher Criteria Function values than one supported by a system dynamics model alone were confirmed.

Keywords: group decision process; feedback; system dynamics; multi-criteria function (search for similar items in EconPapers)
Date: 2007
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DOI: 10.1007/s10726-006-9035-9

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