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Decision Scenario: Problems and Prospects

In: Decision Processes by Using Bivariate Normal Quantile Pairs

Author

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  • N. C. Das

    (Birsa Agricultural University, Department of Statistics)

Abstract

A brief history of decision-making concepts and methods advocated by seers during Vedic and Vedantic (post-Vedic) eras and even later has been sketched in Sect. 6.1 (The chapter aims to provide an effective link between what have been achieved through previous text with what are to be presented in Chap. 7 . Later half of Chap. 4 contained development of algorithm for BIVNOR, whereas contents of Chap. 5 are methods developed for their validity and reliability testers with their results in Chap. 9 of the book. Applications of tables created and presented in Chap. 8 are meant for multiple spectra of complex decision scenario as discussed in the initial chapters.). These, in no way, are exhaustive but quite informative. The aim is to establish at least surface connectivity with different decision tools being developed and to point out where the gaps are being felt since last six to seven decades in their applications for tangible solutions. This fulfils the aspirations of developers of such celebrated tools and of the decision-makers by the use of long-awaited biquantile pairs/equi-quantile values. This chapter has 12 sections of which Sect. 6.1, as already stated, is devoted to early periods of personality development for decision-making, that is to say of reaching the state of kaivalyam—the supremo amongst the decision-makers. The rests of the sections are on introduction to different aspects, methods and tools developed during last six to seven decades. Most of them offer only basic theme meant for mere connectivity with problems being encountered in applications of those tools. Hence, the reader is expected to consult basic-level texts and references for problem-oriented topics to have real feel of the problems and prospect of their solutions. Particularly, when the reader is required to face complexities in respect of uncertainty, dependence and dynamism, he is keen for realistic decision. Thus, the chapter aims to recollect basics of newly developed decision tools and thereby prepares for learning the artefacts of using biquantile pairs/equi-quantile value in the forthcoming application-oriented chapter.

Suggested Citation

  • N. C. Das, 2015. "Decision Scenario: Problems and Prospects," Springer Books, in: Decision Processes by Using Bivariate Normal Quantile Pairs, edition 127, chapter 0, pages 103-136, Springer.
    • Handle: RePEc:spr:sprchp:978-81-322-2364-1_6
    DOI: 10.1007/978-81-322-2364-1_6
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