Are game theory and chaos theory related

Chaos theory and corporate management

Introduction

Managers in companies are often surprised by the consequences of their decisions: The consequences are often unexpected and undesirable. The classic "decision under uncertainty" approach explains this with a lack of information about exogenous factors. However, there are decisions whose uncertainty is endogenous, i.e. based on the complexity of the decision-making situation.

Since decision-determining mental models ignore essential properties of complexity and thus uncertainty turns into ignorance, Torsten Büssow reconstructs the phenomenon of complexity mathematically and makes it understandable and manageable by means of model-based decision preparation. He justifies the need to use mathematical models for handling complexity in terms of behavioral and cognitive science and thus expands the system-theoretical instruments in business administration, which have so far been based on verbal and iconic access.

Keywords

Business Administration Business Administration Chaos Theory Decision and Organization Theory Decision Theory Complexity Management Methods Organization Organizational Theory Control System Theory Companies Complex Systems

About the authors

Dr. Torsten Büssow did his PhD with Prof. Dr. Egbert Kahle at the chair for business administration, especially decision-making and organization, at the University of Lüneburg. He works as a management consultant in the area of ​​"Finance Transformation" for Cap Gemini Ernst & Young Consulting, Hamburg.

Bibliographic information

  • Book Title Chaos theory and corporate management
  • Book subtitle constructions for model-based decision preparation
  • AuthorsTorsten Büssow
  • Series TitleDecision and Organization Theory
  • DOIhttps: //doi.org/10.1007/978-3-322-95347-6
  • Copyright InformationGabler Verlag | Springer Fachmedien Wiesbaden GmbH, Wiesbaden 2003
  • Publisher NameDeutscher Universitätsverlag, Wiesbaden
  • eBook PackagesSpringer Book Archive
  • Softcover ISBN978-3-8244-0729-3
  • eBook ISBN978-3-322-95347-6
  • Edition Number1
  • Number of Pages XVIII, 438
  • Number of Illustrations1 b / w illustrations, 0 illustrations in color
  • TopicsBusiness Strategy / Leadership
    management
  • Buy this book on publisher's site