The preponderance of decision in a new managerial function of information – decision

Gheorghe Săvoiu and Valeria Pirlici

MPRA Paper from University Library of Munich, Germany

Abstract: The decision preponderate over information in a new central function of management defined as informationdecision; we believe that the option for a compromise of the type: prognosis of product or service, organization, information-decision, stimulation and control better responds to the new managerial conditions. There frequently occur deadlocks in modelling decisions, especially owing to the lack of information (quality of the data, equations, the degre of accuracy etc.), but we believe that the option for a better decision, sometimes even instead of a better information, finally, means an optimal solution to short term.

Keywords: managerial information and decision; mathematical hope; prudence; moderate; superoptimistic; equilibrium and regrets rule; decision trees (search for similar items in EconPapers)
JEL-codes: M11 M12 O32 (search for similar items in EconPapers)
Date: 2007-02
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Published in Annals of the Oradea University. Fascicle of Management and Technological Engineering 16.6(2007): pp. 2164-2173

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