DYNAMICAL SYSTEMS IN MANAGERIAL DECISION MAKING
DYNAMICAL SYSTEMS IN MANAGERIAL DECISION MAKING

Summary/Abstract: Many of the complex dynamic effects found in the real world can be better understood with simple tasks, such as dynamical systems. Dynamical systems are a widely used methodology to study complex feedback structures using computer simulation models. This paper discusses the effect of various dynamical systems interventions on dynamic decision making. A series of controlled experiments to test the effect of system interventions is proposed. The aim of this research is to scientifically test systems-based decision aids thereby resulting in increased confidence of their use. Here we present a new research process by which to understand the theory of decision making through dynamical systems. The focus of this paper is to show how a management decision can be determined using the bifurcation theory and dynamical systems.

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