Decision Making: Recent Developments and Worldwide Applications

1. Front Matter

   Pages i-xv

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2. Management Information Systems

   1. Front Matter

      Pages 1-1

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   2. Empirical Assessment of Information Technology Chargeback Systems Decisions

      • D. H. Drury

      Pages 3-16

   3. Lessons Learnt from the Successful Adoption of an ERP: The Central Role of Trust

      • D. Gefen

      Pages 17-30

   4. Simultaneous Analysis of Heterogenous Databases on the Web: The Addsia Project

      • J. M. Lamb, C. R. Smart

      Pages 31-46

3. Education Innovations & Distance Learning

   1. Front Matter

      Pages 47-47

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   2. Decision Support for the Management of Admissions to Academic Programs

      • K. S. Dhir, W. H. Platt, G. Watts

      Pages 49-64

   3. The Use of Tacit Knowledge in Selection Decisions in Universities

      • M. A. Barrett, L. K. Hort

      Pages 65-80

4. International Business

   1. Front Matter

      Pages 81-81

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   2. Role of Political Violence in Foreign Direct Investment Decisions

      • H. Singh

      Pages 83-96

   3. On the Stability of Countries’ National Technological Systems

      • W. Nasierowski, F. J. Arcelus

      Pages 97-111

5. Marketing

   1. Front Matter

      Pages 113-113

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   2. Marketing of Differentiated Fresh Produce

      • G. Baourakis, E. Lassithiotaki, P. M. Pardalos

      Pages 115-130

   3. A Decision Support System for the Seller’s Return Problem in the Product Line Design

      • G. Alexouda, K. Paparrizos

      Pages 131-140

6. Finance and Banking

   1. Front Matter

      Pages 141-141

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   2. Portfolio Performance Measures: A Brief Survey and Hypothesis Testing

      • G. L. Ghai, T. E. Pactwa, A. J. Prakash

      Pages 143-155

   3. A System Dynamics Model of Stock Price Movements

      • P. L. Kunsch, M. Theys, A. Chevalier, J.-P. Iacopetta

      Pages 157-171

   4. Information Effects on the Accuracy of Neural Network Financial Forecasting

      • S. Walczak

      Pages 173-182

   5. Is the Taiwan Stock Market Efficient?

      • J. P. Gupta, I. M. Pandey, Chen Chao-Fu

      Pages 183-196

   6. The Dynamics of Implied Volatility Surfaces

      • G. Skiadopoulos, S. Hodges, L. Clewlow

      Pages 197-211

This chapter describes a study conducted at the Swinburne University of Technology in Australia, in their School of Business. The study was to explore the applicability of a judgment-analytic decision support system to the assessment of the likelihood of an applicant being selected for admission to the School's Graduate Certificate in Business Administration (GCBA) program. The likelihood of a program administrator selecting a particular applicant is directly linked to the assessment of the likelihood of that applicant's success in the GCBA program. The purpose of this study, in effect, was to analyze the administrative judgment process in assessment of an applicant's likelihood of success in the program. THE PROCESS OF HUMAN JUDGMENT Human judgment is a process through which an individual uses social infonnation to make decisions. The social infonnation is obtained from an individual's environment and is interpreted through the individual's cognitive image of the environment. The. cognitive image provides a representation of the environment based on past experiences and training, and essentially predisposes the person to respond to social infonnation in predictable ways. An individual's policies or beliefs about the environment represent these patterns. Human judgments are based then upon one's interpretation of available infonnation. They are probability statements about one's environment and how one reacts to it. This condition leads to the human judgment process being inherently limited. It is fundamentally a covert process. It is seldom possible for an individual to accurately describe his or her judgment process accurately.

• Analysis
• Banking
• Finance
• Investment
• Investments
• Leasing
• business
• communication
• information
• information technology
• innovation
• linear optimization
• operations research
• optimization

• College of Business Administration, Decision Science & Information Systems Department, Florida International University, Miami, USA

  Stelios H. Zanakis

• Department of Management Science and Technology, Athens University of Economics & Business, Athens, Greece

  Georgios Doukidis

• Technical University of Crete, Department of Production Engineering and Management, Financial Engineering Laboratory, University Campus, Chania, Greece

  Constantin Zopounidis

Policies and ethics