TIME AND MONEY TRADE-OFF IN COMPETENCE SET EXPANSION

Han-Lin Li () and Jia-Jane Shuai
Additional contact information
Han-Lin Li: Institute of Information Management, National Chiao Tung University, HsinChu 300, Taiwan, ROC
Jia-Jane Shuai: Department of Information Management, Ming Hsin University of Science and Technology, ROC

International Journal of Information Technology & Decision Making (IJITDM), 2004, vol. 03, issue 02, 251-263

Abstract: A competence set is a set of ideas, knowledge and skills for problem solving. To a decision maker, how to expand the current competence set in the most effective and efficient way is an important issue. This paper improves Li1method of competence expansion problems by extending the original time static model into a time dynamic model. Both the time cost and the money cost of learning a new competence are considered simultaneously. A dynamic model of competence expansion is proposed which minimize the total expanding time subjected to the total budget plan in the expansion process. A numerical example is given to illustrate the methodology and results.

Keywords: Competence sets; knowledge expansion; habitual domain (search for similar items in EconPapers)
Date: 2004
References: View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://www.worldscientific.com/doi/abs/10.1142/S0219622004001070
Access to full text is restricted to subscribers

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:wsi:ijitdm:v:03:y:2004:i:02:n:s0219622004001070

Ordering information: This journal article can be ordered from

DOI: 10.1142/S0219622004001070

Access Statistics for this article

International Journal of Information Technology & Decision Making (IJITDM) is currently edited by Yong Shi

More articles in International Journal of Information Technology & Decision Making (IJITDM) from World Scientific Publishing Co. Pte. Ltd.
Bibliographic data for series maintained by Tai Tone Lim ().