Master 2021/2022

Decision Analysis

Type: Compulsory course (Business Analytics and Big Data Systems)

Area of studies: Business Informatics

Delivered by: Department of Mathematics

Where: Graduate School of Business

When: 1 year, 1, 2 module

Mode of studies: offline

Open to: students of one campus

Instructors: Fuad T. Aleskerov, Sergey Demin

Master’s programme: Business Analytics and Big Data Systems

Language: English

ECTS credits: 5

Contact hours: 40

Course Syllabus

Abstract

The course contains the main topics of decision analysis in the deterministic framework widely used in management. The topics include uni- and multicriterial choice models, models of personnel management, models of fair division, network analysis, an analysis of efficiency of firms. It includes as well the models of data analysis used in business and political decisions. All models are widely illustrated by real-life examples.

Learning Objectives

• Study of the theoretical foundations of modern models of individual, multi-criteria and collective decision-making in economics and business
• Study of the principles of construction, analysis and evaluation of formalized mathematical models describing real situations
• Knowledge of some basic models of multi-criteria, individual and collective decision-making, matching construction, the assessment of influence in groups and the assessment of the efficiency of companies

Expected Learning Outcomes

• ability to apply the algorithm of Gale-Shapley to find a stable matching
• ability to evaluate the efficiency of companies taking into account many factors
• ability to evaluate the impact of group members with assistance of influence indices (Banzaf, Johnston, Shapley-Shubik, Digen-Pakel, alpha-indices)
• ability to identify the criterion type (quantitative or qualitative)
• knowledge and ability to apply different methods for solving multicriteria problems

Course Contents

• Uni- and multicriterial choice models
• Matchings
• Fair division
• Network analysis
• Data analysis in business
• Efficiency of firms
• Political decisions
• Power in groups

Assessment Elements

• Homework
  Several small homeworks given by the lecturer.
• Project
  Students perform group or individual project on one of the proposed topics or a topic proposed by them (with the approval of the teacher)
• Exam
  The exam consists of tasks that are equivalent or similar to those that were analyzed at lectures and seminars, as well as given to students in homework. The examination work is performed by the student independently. It is forbidden to use any materials (in printed and electronic form)

Interim Assessment

• 2021/2022 2nd module
  0.4 * Exam + 0.2 * Homework + 0.4 * Project

Bibliography

Recommended Core Bibliography

• Aizerman, M. A. (1985). New Problems in the General Choice Theory. Working Papers.
• Aleskerov, F., Meshcheryakova, N., & Shvydun, S. (2016). Centrality measures in networks based on nodes attributes, long-range interactions and group influence.
• Aleskerov, F., Meshcheryakova, N., Rezyapova, A., & Shvydun, S. (2018). Network analysis of international migration.

Recommended Additional Bibliography

• George Wu, & Kathleen L. McGinn. (2017). Decision Analysis. HBP Education Case Study Collection.
• Gregory S. Parnell, Terry Bresnick, M., Steven N. Tani, P., & Eric R. Johnson, P. (2012). Handbook of Decision Analysis. Wiley.
• Kenneth D. Lawrence, & Gary Kleinman. (2010). Applications in Multi-criteria Decision Making, Data Envelopment Analysis, and Finance: Vol. 1st ed. Emerald Group Publishing Limited.
• Sherman, E. H. (2015). A Manager’s Guide to Financial Analysis : Powerful Tools for Analyzing the Numbers and Making the Best Decisions for Your Business: Vol. Sixth edition. AMA Self-Study.
• Ward Edwards, Ralph F. Miles Jr, & Detlof von Winterfeldt. (2007). Advances in Decision Analysis : From Foundations to Applications. Cambridge University Press.
• Y. Ilker Topcu, Özay Özaydın, Özgür Kabak, & Şule Önsel Ekici. (2021). Multiple Criteria Decision Making : Beyond the Information Age (Vol. 1st ed. 2021). Springer.
• Алескеров, Ф. Т. Бинарные отношения, графы и коллективные решения : учебное пособие / Ф. Т. Алескеров, Э. Л. Хабина, Д. А. Шварц. — 2-е изд. — Москва : ФИЗМАТЛИТ, 2012. — 344 с. — ISBN 978-5-9221-1363-2. — Текст : электронный // Лань : электронно-библиотечная система. — URL: https://e.lanbook.com/book/59762 (дата обращения: 00.00.0000). — Режим доступа: для авториз. пользователей.