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Fibonacci Hierarchies for Decision Making

Author

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  • Yucel, Eray
  • Tokel, Emre

Abstract

All decisions are practically made within a chainwise social setup named a decision-making chain (DMC). This paper considers some cases of an idea (a project proposal) propagating through an organizational DMC. Survival of a proposal through successive links of the DMC depends on the relative power of those links, in addition to proposal’s intrinsic value. Then it is not impossible to reject a good proposal or to fail to reject a bad proposal, either of which may generate undesired, though not detrimental, outcomes. We consider here a simple metric to assess quality of decision-making. The notion of quality here derives from “not declining (not accepting) a project that is of high (poor) intrinsic value”. As Fibonacci series establish the mathematical basis of our proposed metric, metric is simply named a Fibonacci metric.

Suggested Citation

  • Yucel, Eray & Tokel, Emre, 2010. "Fibonacci Hierarchies for Decision Making," MPRA Paper 20973, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:20973
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    File URL: https://mpra.ub.uni-muenchen.de/20973/1/MPRA_paper_20973.pdf
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    References listed on IDEAS

    as
    1. René Brink & Frank Steffen, 2012. "Axiomatizations of a positional power score and measure for hierarchies," Public Choice, Springer, vol. 151(3), pages 757-787, June.
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    More about this item

    Keywords

    Decision making chains; Innovation; Fairness metric; Fibonacci series;
    All these keywords.

    JEL classification:

    • Z1 - Other Special Topics - - Cultural Economics
    • C00 - Mathematical and Quantitative Methods - - General - - - General
    • A1 - General Economics and Teaching - - General Economics

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