List of publications on a keyword: «decision making»

Margin analysis is a very powerful tool for modelling how individual producers and consumers make decisions. The basic idea is that decision makers make choices based on the comparative costs and benefits associated with small changes in a given state of the world. If the marginal benefits of a small change outweigh the marginal costs of that change, the decision maker makes that small change and then re-analyses for the next potential additional change. Margin analysis is an important component in modelling how producers make decisions to maximize profits and how consumers make decisions to maximize utility. The purpose of this study is to evaluate the different aspects of marginal analysis and how it may be applied in management accounting, therefore it encompasses a lot of aspects from how to evaluate actual opportunity costs to profit maximization and how these aspects can be applied in decision making, consequently this research will try to determine and infer whether the concept can be reliably applied in real life scenarios and be able to produce reliable results which can benefit firms to reduce costs and maximize their profits.

This article presents the study of optimism and various parameters of economic decisions among traders. There is a contradiction in literature: on one hand, according to the results of the research, optimism is a predictor of successful activity, on the other, it is the cause of errors, especially in making economic decisions. The study was conducted on 630 professional traders, a technology for studying optimism as cognitive distortion was specially developed, as well as a special technique for studying economic decisions. As a result, the parameters of economic decisions were revealed, as well as a positive relationship between optimism and decision parameters.

The study examines the parameters of decision making among traders. The risk seeking is studied as professionally important criteria in this group. The aim of the research is to study peculiarities of traders’ decision-making, as well as to identify the characteristics of decision-making of risk-seeking traders. The study has been made based on 630 professional traders. As research methods, the author used specially developed technique according to the type of lottery, which revealed the following parameters of decisions – the tendency for risk-seeking and risk-avoid, a hypothetical benefit, the time to get benefit. The article has also studied the subjective success of traders and their socio-demographic characteristics. The result revealed that the most traders followed a combined strategy and relayed on their own experience. And the risk was associated with high rates of a hypothetical win, which was delayed in time.