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Презентация на тему How managers can make a decision in an uncertainty environment?

Solution Criterion of Laplace (Bayesian)The Bayesian postulate: if the probabilities of phenomena is unknown,they must be intaken for equalthe expected value of the strategiesThe chosen strategy is a strategy with the highest expected value, subject to
How managers can make a decision in an uncertainty environment?2 Solution Criterion of Laplace (Bayesian)The Bayesian postulate: if the probabilities of phenomena For strategies S1, S2, S3, S4, S5, the expected value is 22/4, The criterion of Laplace - is the criterion of rationality, completely insensitive Conclusion :The process of decision-making under uncertainty is the process of criteria Other methods of evoidance of uncertaintyHedging- method in which future uncertainty is Manufacturer buys oil and plans to sell gasoline made of this oil FLEXIBLE INVESTMENT	I don't want to be locked in investments in specialized assets Other methods of evoidance of uncertaintyDIVERSIFICATION OF THE COMPANY'S INTERESTSThis approach Other methods of evoidance of uncertaintyTHE ACQUISITION OF ADDITIONAL INFORMATIONObviously, the Tropical Products
Слайды презентации

Слайд 2 Solution Criterion of Laplace (Bayesian)
The Bayesian postulate: if

Solution Criterion of Laplace (Bayesian)The Bayesian postulate: if the probabilities of

the probabilities of phenomena is unknown,they must be intaken

for equal

the expected value of the strategies

The chosen strategy is a strategy with the highest expected value, subject to equal probabilities




Слайд 3


For strategies S1, S2, S3, S4, S5, the

For strategies S1, S2, S3, S4, S5, the expected value is

expected value is 22/4, 24/4, 46/4, 42/4 and 47/4

respectively


The result of the assumption of equal probabilities for each state of the economy is a decision in a situation of risk


Слайд 4 The criterion of Laplace - is the criterion

The criterion of Laplace - is the criterion of rationality, completely

of rationality, completely insensitive to the decision-makers
Suitable for long-term

forecasting by large firms, as in fact equality of probabilities of all the States of the economy is impossible, especially in the short term

Слайд 5 Conclusion :
The process of decision-making under uncertainty is

Conclusion :The process of decision-making under uncertainty is the process of

the process of criteria selection, and then performance of

the calculations necessary to make a selection within this criterion

What criterion is the most suitable?

The choice often depends on
personal reasons!




Слайд 6 Other methods of evoidance of uncertainty
Hedging

- method in

Other methods of evoidance of uncertaintyHedging- method in which future uncertainty

which future uncertainty is replaced with the reliability of

the current contract

Слайд 7 Manufacturer buys oil and plans to sell gasoline

Manufacturer buys oil and plans to sell gasoline made of this

made of this oil after 3 months.
To reduce the

risk, he enters into a forward contract for the supply of gasoline with expiry of 3 months.

Слайд 8
FLEXIBLE INVESTMENT
I don't want to be locked in

FLEXIBLE INVESTMENT	I don't want to be locked in investments in specialized

investments in specialized assets unless it will become clear

that the demand for them will take place during the whole term of investments

Other methods of evoidance of uncertainty


Слайд 9 Other methods of evoidance of uncertainty
DIVERSIFICATION OF

Other methods of evoidance of uncertaintyDIVERSIFICATION OF THE COMPANY'S INTERESTSThis

THE COMPANY'S INTERESTS
This approach is illustrated by the old

adage:
"don't put all your eggs in one basket"

Слайд 10 Other methods of evoidance of uncertainty
THE ACQUISITION

Other methods of evoidance of uncertaintyTHE ACQUISITION OF ADDITIONAL INFORMATIONObviously,

OF ADDITIONAL INFORMATION
Obviously, the more information you gather about

the future, the less it will be undefined

However, in some time the law of diminishing marginal utility will occur


Слайд 11 Tropical Products

Tropical Products

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