Decision Making Reflecting the Fractalization of the Society

0558141 - ÚI 2023 RIV RS eng J - Journal Article
Kalina, Jan
Decision Making Reflecting the Fractalization of the Society.
Serbian Journal of Management. Roč. 17, č. 1 (2022), s. 207-218. ISSN 1452-4864
Grant - others:GA ČR(CZ) GA21-19311S
Institutional support: RVO:67985807
Keywords : decision support * economic equilibrium * management * credit risk * information theory * chaos theory
OECD category: Applied Economics, Econometrics
Impact factor: 0.7, year: 2022
Method of publishing: Open access
http://dx.doi.org/10.5937/sjm17-31413

Although the mainstream economic doctrine relies on the concept of equilibrium, the current society has been recently facing serious challenges. While we can experience a gradually rise of the ideals of the knowledge society, we hold the opinion that the society (and the economies worldwide as well) will have a fractal structure following models investigated by the chaos theory. This paper is focused on decision making especially in economic or managerial tasks and its transforms due to the paradigm shift towards a fractal society in disequilibrium economic conditions. Statistical and information-theoretical aspects of decision support are discussed and a decision making example from the field of credit risk management is analyzed and presented.
Permanent Link: http://hdl.handle.net/11104/0331942