A Multidimensional Framework for Financial-Economic Decisions
23 Pages Posted: 13 Feb 2006
There are 2 versions of this paper
A Multidimensional Framework for Financial-Economic Decisions
A Multidimensional Framework for Financial-Economic Decisions
Date Written: 29 2003 4,
Abstract
Most financial-economic decisions are made consciously, with a clear and constant drive to ???good???, ???better??? or even ???optimal??? decisions. Nevertheless, many decisions in practice do not earn these qualifications, despite the availability of financial economic theory, decision sciences and ample resources. We plea for the development of a multidimensional framework to support financial economic decision processes. Our aim is to achieve a better integration of available theory and decision technologies. We sketch (a) what the framework should look like, (b) what elements of the framework already exist and which not, and (c) how the MCDA community can co-operate in its development. Most financial-economic decisions are made consciously, with a clear and constant drive to "good", "better" or even "optimal" decisions. Nevertheless, many decisions in practice do not earn these qualifications, despite the availability of financial economic theory, decision sciences and ample resources. We plea for the development of a multidimensional framework to support financial economic decision processes. Our aim is to achieve a better integration of available theory and decision technologies. We sketch (a) what the framework should look like, (b) what elements of the framework already exist and which not, and (c) how the MCDA community can co-operate in its development.
Keywords: finance, financial decisions, multiple criteria, decision making, decision analysis
JEL Classification: M, M41, G3, G30, C44
Suggested Citation: Suggested Citation
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