Decision under uncertainty: Investment in a human resource
Independent thesis Advanced level (degree of Master (One Year))Student thesis
Title: Decision under uncertainty - Investment in a human resource Authors: Emil Numminen & Fredrik Falkenback Thesis advisor: Anders Hederstierna Purpose: To determine how well models for decisions under uncertainty can describe an investment in a human resource. Method: A standardized structured expert interview with a decision maker of human resources investments was made. The empirical material from the inter-view is then compared against the main proper-ties of the two models. Conclusions: The traditional decision analysis can describe the process of investments made in human resources where absence of management exists and the in-vestment has limited time duration. The real op-tion analysis can describe the process of invest-ments made in human resources where process is characterized by sequential decisions made about the investment.
Place, publisher, year, edition, pages
2003. , 69 p.
Decision under uncertainty, Traditional decision analysis, Real option analysis, Expected monetary value, EMV, Certainty monetary equivalent, CME, Expected opportunity loss, EOL, Ellsberg paradox, Bayes theorem, Decision tree, decision matrix, states, events, strategies
IdentifiersURN: urn:nbn:se:bth-5561Local ID: oai:bth.se:arkivex5681083B0EC71359C1256DA400478855OAI: oai:DiVA.org:bth-5561DiVA: diva2:832946
UppsokSocial and Behavioural Science, Law