A faculty development seminar will be held on Monday, November 30 at 12:00 p.m. (noon) in Neff Hall B70. Dr. James Corner, visiting scholar to IPFW Doermer School of Business, will talk about "Six Lessons Learned From Considering Descriptive Decision Processes." Please join us for this informative event. Lunch and drinks will be provided. Please RSVP to Bobbi (260-481-6461) and let her know whether you plan to come so that she can order lunch. The abstract of Dr. Corner's presentation is appended below.
Abstract: Normative and prescriptive decision techniques exist to aid decision makers when facing hard decision problems, such as those with many competing objectives, many uncertainties, the need to consider risk and tradeoffs, and multiple impacted stakeholders. However, such techniques do not adequately mirror or take into account what the unaided decision maker might do otherwise when facing such problems. Consequently, decision makers on their own tend not to use most of the elegant techniques developed to date. To remedy this situation, researchers and practitioners attempt to incorporate an increasing amount of descriptive decision behavior into prescriptive techniques. This talk presents some of the most important descriptive behaviors yet to be addressed by prescription. Six lessons gleaned from the descriptive decision process literature are discussed in an attempt to provide a basis for the development of more useful prescriptive techniques.