IDEAS home Printed from https://ideas.repec.org/a/caa/jnlage/v57y2011i5id53-2011-agricecon.html
   My bibliography  Save this article

The theory of preferential choice and its utilization in managerial decision-making

Author

Listed:
  • Jan HRON

    (Department of Management, Faculty of Economics and Management, Czech University of Life Sciences, Prague, Czech Republic)

  • Tomas MACAK

    (Department of Management, Faculty of Economics and Management, Czech University of Life Sciences, Prague, Czech Republic)

  • Andrea JINDROVA

    (Department of Management, Faculty of Economics and Management, Czech University of Life Sciences, Prague, Czech Republic)

Abstract

At the theoretical level (respectively in the level of basic research), the aim of the submitted article is to form the theories of preferential choice in the area of higher utility vs. lower risk at interchangeable alternatives. Different or common features of utility vs. stochastic rating at agricultural subject are identified on the bases of this initial (axiomatically understood) theory. The consecutive (applicably usable) aim is then the commercialisation of the created theory of the preferential choice as a possible instrument which suits many times the controversial results and which brings the application of utilitarian and stochastic access to the decision at not only agricultural business subjects. The determination of the knowledge system for support of determination will be in that way the practical ascent for which the method of the manager decision making is for the certain situation (of information uncertainty) the most suitable (Laplace, Hurwitz, mini-Max).

Suggested Citation

  • Jan HRON & Tomas MACAK & Andrea JINDROVA, 2011. "The theory of preferential choice and its utilization in managerial decision-making," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 57(5), pages 211-216.
    • Handle: RePEc:caa:jnlage:v:57:y:2011:i:5:id:53-2011-agricecon
    DOI: 10.17221/53/2011-AGRICECON
    as

    Download full text from publisher

    File URL: http://agricecon.agriculturejournals.cz/doi/10.17221/53/2011-AGRICECON.html
    Download Restriction: free of charge
    File URL: http://agricecon.agriculturejournals.cz/doi/10.17221/53/2011-AGRICECON.pdf
    Download Restriction: free of charge
    File URL: https://libkey.io/10.17221/53/2011-AGRICECON?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Pavel TOMŠÍK & Emil SVOBODA, 2010. "Diagnostics and decision-making of the company management within the period of economiccrisis and recession," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 56(7), pages 303-309.
    2. Dutta, Kaushik & VanderMeer, Debra, 2011. "Cost-based decision-making in middleware virtualization environments," European Journal of Operational Research, Elsevier, vol. 210(2), pages 344-357, April.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Lina Novickyté, 2019. "Risk in agriculture: An overview of the theoretical insights and recent development trends during last decade - A review," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 65(9), pages 435-444.
    2. Martina KÖNIGOVÁ & Jan HRON, 2012. "Methodology for the identification of managerial competencies in knowledge-based organizations," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 58(8), pages 347-353.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Jan HRON, 2012. "Design of experiments for the analysis and optimization of barcodes of food and agricultural products," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 58(12), pages 549-556.
    2. Hana Štiková, 2012. "Project costs planning in the conditions of uncertainty," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 58(2), pages 72-84.
    3. Katarina Remenova & Nadezda Jankelova, 2019. "Decision-making style of agribusiness managers," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 65(7), pages 322-330.
    4. Shady ALY & Ivan VRANA, 2011. "Combining the crisp outputs of multiple fuzzy expert systems using the MPDI along with the AHP," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 57(5), pages 217-225.
    5. Patrik SVOBODA, 2011. "Application of new approaches in recognizing leases on the part of the lessee in the selected companies in the Czech Republic," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 57(7), pages 340-349.
    6. Ivana TICHÁ & Jan HRON & Jiří FIEDLER, 2010. "Managerial decision making - importance of intuition in the rational process," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 56(12), pages 553-557.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:caa:jnlage:v:57:y:2011:i:5:id:53-2011-agricecon. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Ivo Andrle (email available below). General contact details of provider: https://www.cazv.cz/en/home/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.