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Objectives and competences

Student will: • in-depth understanding of decision theory, its role and meaning in the process of complex problem solving; • ability to independently organize and lead complex decision processes; • Ability to independently develop decision models in the a specific context; • ability to argument the selected alternative and critically evaluate decision analysis results.

Content (Syllabus outline)

- Cybernetic based decision-making, Sets and measurement - Human in the decision-making process. - Decision Models. - Decision matrics and decision trees. - Decision making under uncertainty. - Value of Information. - Bayesian decision model. - Basics of Game Theory in decision-making and Decision making under complete uncertainty. - Judgement under uncertainty and the certainty equivalent. - Framing of Information and Prospect theory. - Multiple criteria decision making. - Group decision-making. - Contemporary Decision Support Systems (data-driven decision-making, data analytics, data mining, artificial intelligence methods in decision-making).

Learning and teaching methods

• Lectures, • seminars, • case studies, • practical work on the PCs.

Intended learning outcomes - knowledge and understanding

Knowledge and understanding: After completing the course the students will be able to: • Identify and formulate the decision problem (alternatives, criteria, and state of the environment). • Select an appropriate method for the decision-making while taking into account limitations and risks. • Form the criteria function and to select the solution and critically assess results of decision analysis • Master the use of group decision making techniques. • Master the use of decision support software.

Readings

Temeljna literatura: 1. Kljajić Borštnar, M. (2021). Modeliranje odločitvenega znanja : učbenik. Kranj: Fakulteta za organizacijske vede, 2021. 1 spletni vir (1 datoteka PDF (53 str.)). https://estudij.um.si/mod/resource/view.php?id=316738. [COBISS.SI-ID 96346115] 2. Bohanec, M.: ODLOČANJE IN MODELI, DMFA, 2006. 3. V. Omladič:: Matematika in odločanje, Knjižnica Sigma, 2002. 4. Peterson, M.: An Introduction to Decision Theory. Cambridge University Press, 2009. 5. Hansson, S. O.: Decision Theory: A Brief Introduction, 2005, URL: http://people.kth.se/~soh/decisiontheory.pdf , 7.12.2015. 6. Steele, Katie and Stefánsson, H. Orri, "Decision Theory", The Stanford Encyclopedia of Philosophy (Winter 2015 Edition), Edward N. Zalta (ed.): https://plato.stanford.edu/archives/win2015/entries/decision-theory/ 7. Clemen, Robert; Reilly, Terence (2014). Making Hard Decisions with DecisionTools: An Introduction to Decision Analysis (3rd ed.). South-Western Cengage Learning. 8. Courtney, J.F. (2001). Decision-making and knowledge management in inquiring or ganizations: Toward a new decision-making paradigm for DSS, Decision Support Systems, 31, pp. 17–38.

Prerequisits

Conditions for taking the exam are: completed assignements of e-study units and seminal work.

  • red. prof. dr. MIRJANA KLJAJIĆ BORŠTNAR, univ. dipl. org.

  • Written examination: 60
  • Completed homeworks: 20
  • Seminar paper: 20

  • : 36
  • : 24
  • : 150

  • Slovenian
  • Slovenian

  • ORGANIZATION AND MANAGEMENT OF INFORMATION SYSTEMS - 1st