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Decision Making and Optimization in Changeable Spaces, a New Paradigm

Larbani, Moussa and Yu, Po Lung (2012) Decision Making and Optimization in Changeable Spaces, a New Paradigm. Journal of Optimization Theory and Applications, 155 (3). pp. 727-761. ISSN 0022-3239

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Abstract

This paper proposes a new decision making/optimization paradigm, the decision making/optimization in changeable spaces (DM/OCS). The unique feature of DM/OCS is that it incorporates human psychology and its dynamics as part of the decision making process and allows the restructuring of the decision parameters. DM/OCS is based on Habitual Domain theory, the decision parameters, the concept of competence set, and the mental operators 7-8-9 principles of deep knowledge. The covering and discovering processes are formulated as DM/OCS problems. Some illustrative examples of challenging problems that cannot be solved by traditional decision making/optimization techniques are formulated as DM/OCS problems and solved. In addition, some directions of research related to innovation dynamics, management, artificial intelligence, artificial and e-economics, scientific discovery, and knowledge extraction are provided in the conclusion.

Item Type: Article (Journal)
Additional Information: 3917/26752
Uncontrolled Keywords: Habitual domains, Decision making, Changeable spaces, Parameters, Covering, Discovering, Competence set, Decision blinds, Decision traps
Subjects: H Social Sciences > HB Economic Theory > HB131 Methodology.Mathematical economics. Quantitative methods
Kulliyyahs/Centres/Divisions/Institutes: Kulliyyah of Economics and Management Sciences > Department of Business Administration
Depositing User: Professor Larbani Moussa
Date Deposited: 30 Apr 2013 15:15
Last Modified: 17 Jul 2014 11:12
URI: http://irep.iium.edu.my/id/eprint/26752

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