Decision Sciences

Authored by: Sven Axsäter , Johan Marklund

Encyclopedia of Library and Information Science, Fourth Edition

Print publication date:  November  2017
Online publication date:  November  2017

Print ISBN: 9781466552593
eBook ISBN: 9781315116143
Adobe ISBN:

10.1081/E-ELIS4-120043712

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Abstract

This entry provides a description of the vast area of decision sciences from an operations research/management science (OR/MS) perspective. This means that the focus is on how quantitative models can be used for improving the quality of decisions. After describing and explaining a general conceptual approach to quantitative decision modeling, some important, commonly used decision models and methods are considered in more detail. The list includes both deterministic models such as linear programming (LP), integer programming (IP), and economic lot sizing, as well as stochastic models for safety stock decisions in inventory management. Various generalizations are also discussed together with brief comments and references to other important decision modeling approaches such as game theory, multiple criteria decision making (MCDM), queuing, and simulation.

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