The document provides information on decision making under conditions of certainty, risk, and uncertainty. It discusses three main types of decision making environments - certainty, where all outcomes are known; risk, where probabilities of outcomes are known; and uncertainty, where little is known about outcomes. Modern approaches to decision making under uncertainty include risk analysis, decision trees, and preference theory. Cost-benefit analysis is also summarized as a technique to evaluate the costs and benefits of potential decisions.
ReSAKSS-AfricaLead Workshop on Strengthening Capacity for Strategic Agricultural Policy and Investment Planning and Implementation in Africa Safari Park Hotel, Nairobi, June 25th‐ 26th 2012
An economic technique applied to public decision−making that attempts to quantify the advantages (benefits) and disadvantages (costs) associated with a particular project or policy.
ReSAKSS-AfricaLead Workshop on Strengthening Capacity for Strategic Agricultural Policy and Investment Planning and Implementation in Africa Safari Park Hotel, Nairobi, June 25th‐ 26th 2012
An economic technique applied to public decision−making that attempts to quantify the advantages (benefits) and disadvantages (costs) associated with a particular project or policy.
ost-benefit analysis provides an organizational framework for identifying, quantifying, and comparing the costs and benefits (measured in dollars) of a proposed policy action. The final decision is informed (though not necessarily determined) by a comparison of the total costs and benefits.
This report focuses on the Cost-Benefit Analysis which is effective tool and a rational technique for economic valuation where market information is either non-existent or deficient is.
Since pollution is an externality firms will not undertake to control their pollution. The answer is in government regulations. Coase argues that in perfect competition with laissez faire, govt regulation is not needed. Instead bargaining between the polluters and their victims can lead to an optimal situation. But this pre supposes equality in bargaining, and does not take note of ecological consequences of pollution.
Describes in detail the steps involved in the calculation of Internal Rate of Return. Useful to students of Under graduate, post graduate and professional course students pursuing course in finance
010 hotelling optimum exhaustion of a non renewable resourcePrabha Panth
In 1931, Hotelling showed how the rules that apply to the optimum extraction of a non renewable resource differ from that of a produced product, in perfect competition. Here the mine owner has to weigh the present price with the expected future price, if he wishes to conserve the resource.
ost-benefit analysis provides an organizational framework for identifying, quantifying, and comparing the costs and benefits (measured in dollars) of a proposed policy action. The final decision is informed (though not necessarily determined) by a comparison of the total costs and benefits.
This report focuses on the Cost-Benefit Analysis which is effective tool and a rational technique for economic valuation where market information is either non-existent or deficient is.
Since pollution is an externality firms will not undertake to control their pollution. The answer is in government regulations. Coase argues that in perfect competition with laissez faire, govt regulation is not needed. Instead bargaining between the polluters and their victims can lead to an optimal situation. But this pre supposes equality in bargaining, and does not take note of ecological consequences of pollution.
Describes in detail the steps involved in the calculation of Internal Rate of Return. Useful to students of Under graduate, post graduate and professional course students pursuing course in finance
010 hotelling optimum exhaustion of a non renewable resourcePrabha Panth
In 1931, Hotelling showed how the rules that apply to the optimum extraction of a non renewable resource differ from that of a produced product, in perfect competition. Here the mine owner has to weigh the present price with the expected future price, if he wishes to conserve the resource.
planning process and decesion making techniquesChelJo
Process of generating & evaluating alternatives and making choices among them.
Logical sequence of activities act as a intellectual activity
It is directed at solving problems , involve some commitment of resources it is an action commitment
Decision are the means rather than ends . it aims at bringing about a resolution of conflicts.
It is a human and social process it is an art as well as science.
Core of planning and includes forecasting, an integral part of managerial process.
Decision making, Importance of
Decision-Making, Characteristics of
Decision-Making, Essentials for effective
Decision-Making, Types/ categories of Problems and Decisions, TYPES OF BUSINESS DECISIONS, Open decision making System, Decision Making Environment, The Classical Model of decision making, Decision making process, Decision Making Style
Introduction to Engineering Economy is about engineering economy &The technological and social environments in which we live continue to change at a rapid rate.
In recent decades, advances in science and engineering have transformed our transportation systems, revolutionized the practice of medicine, and miniaturized electronic circuits so that a computer can be placed on a semiconductor chip.
Planning means looking ahead and chalking out future courses of action to be followed. It is a preparatory step. It is a systematic activity which determines when, how and who is going to perform a specific job. Planning is a detailed programme regarding future courses of action
MIS Subsystems
Hierarchical Relations of Subsystems
Types of Subsystems
Organisational Function Subsystem
Activity Subsystem
Organisational Function Subsystems
Organisational Function
Production Subsystem
Marketing Subsystem
Personnel Subsystem
Finance Subsystem
Multiple approaches to the structure of MIS
Operational elements (physical components, process, and outputs for users),
Activity subsystems
Functional subsystems
Decision support
Control in Systems - Feedback and Input, Process & Output ControlMohammed Jasir PV
Control in Systems
Feedback
Definition
Mechanism of Feedback
Negative Feedback Control
Input, Process and Output Control
Positive Feedback
Negative Feedback
Input, Process and Output Control
Quality and value of information & Information overloadMohammed Jasir PV
Quality and Value of Information
Information Overload
Causes of Information Overload
Tips to solve the information overload problem
Techniques of Managing Overload
Management Information System
Concept - MIS
Components of MIS
MIS Activites
MIS Fonctions
Characteristics of MIS
Advantages of MIS
Disadvantages of MIS
An introduction to the financial market in India - Types of Financial Markets - Primary Market - Secondary Market - Nature of Fin. Market - Functions of the Markets - Importance of the Markets - SEBI
Multiple Approaches & Synthesis of MIS Structure
--------------------------------------------------------------------
Multiple Approaches to MIS
= Formal IS and Informal IS
= Public IS and Private IS
= Information Networks
= Modularity
= Extent of Integration
= Extent of Man-machine Integration
Synthesis of MIS Structure
= Physical Structure
= Conceptual Structure
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
how can I sell my pi coins for cash in a pi APPDOT TECH
You can't sell your pi coins in the pi network app. because it is not listed yet on any exchange.
The only way you can sell is by trading your pi coins with an investor (a person looking forward to hold massive amounts of pi coins before mainnet launch) .
You don't need to meet the investor directly all the trades are done with a pi vendor/merchant (a person that buys the pi coins from miners and resell it to investors)
I Will leave The telegram contact of my personal pi vendor, if you are finding a legitimate one.
@Pi_vendor_247
#pi network
#pi coins
#money
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
Resume
• Real GDP growth slowed down due to problems with access to electricity caused by the destruction of manoeuvrable electricity generation by Russian drones and missiles.
• Exports and imports continued growing due to better logistics through the Ukrainian sea corridor and road. Polish farmers and drivers stopped blocking borders at the end of April.
• In April, both the Tax and Customs Services over-executed the revenue plan. Moreover, the NBU transferred twice the planned profit to the budget.
• The European side approved the Ukraine Plan, which the government adopted to determine indicators for the Ukraine Facility. That approval will allow Ukraine to receive a EUR 1.9 bn loan from the EU in May. At the same time, the EU provided Ukraine with a EUR 1.5 bn loan in April, as the government fulfilled five indicators under the Ukraine Plan.
• The USA has finally approved an aid package for Ukraine, which includes USD 7.8 bn of budget support; however, the conditions and timing of the assistance are still unknown.
• As in March, annual consumer inflation amounted to 3.2% yoy in April.
• At the April monetary policy meeting, the NBU again reduced the key policy rate from 14.5% to 13.5% per annum.
• Over the past four weeks, the hryvnia exchange rate has stabilized in the UAH 39-40 per USD range.
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
2. Decision
• A choice made between alternative courses of action in
a situation of uncertainty.
Decision Making
“Decision-making involves the selection of a course of
action from among two or more possible alternatives
in order to arrive at a solution for a given problem”
4. Certainty
Theoretical condition in which decision making
is without risk, because the decision maker
has all the information about the exact
outcome of the decision, before he or she
makes the decision
5. Uncertainty
• The lack of certainty.
• A state of having limited knowledge where it is
impossible to exactly describe the existing
state, a future outcome, or more than one
possible outcome
6. Risk
• “Exposure to the chance of injury or loss;
a hazard or dangerous chance.”
• “ The chance of occurring a loss”
7. Decision-making under Certainty:
• A condition of certainty exists when the
decision-maker knows with reasonable
certainty what the alternatives are, what
conditions are associated with each
alternative, and the outcome of each
alternative.
• Under conditions of certainty, accurate,
measurable, and reliable information on
which to base decisions is available.
8. Cont...
Under this condition
Know the cause and effect relationships
Perfect knowledge about each alternative,
and the outcome of each alternative
Future is highly predictable
Such conditions exist in case of routine and
repetitive decisions concerning the day-to-day
operations of the business
9. Decision-making under Risk
• When a manager lacks perfect information or
whenever an information asymmetry exists,
risk arises.
• Under a state of risk, the decision maker has
incomplete information about available
alternatives but has a good idea of the
probability of outcomes for each alternative.
10. Cont...
• While making decisions under a state of risk,
managers must determine the probability
associated with each alternative on the basis
of the available information and his
experience.
11. Decision-making under Uncertainty
• Conditions of uncertainty exist when the
future environment is unpredictable and
everything is in a state of flux.
• The decision-maker is not aware of
– All available alternatives
– The risks associated with each
– The consequences of each alternative or their
probabilities.
12. Cont...
• The manager does not possess complete
information about the alternatives and whatever
information is available, may not be completely
reliable.
• In the face of such uncertainty, managers need to
make certain assumptions about the situation in
order to provide a reasonable framework for
decision-making.
• They have to depend upon their judgment and
experience for making decisions.
14. The most important modern techniques to improve the
quality of decision-making under uncertainty
(1) Risk Analysis
(2) Decision Tree
(3) Preference Theory
15. (1) Risk Analysis
• In this approach analyze the size and nature of
the risk involved in choosing a particular
course of action.
For example, while launching a new product, a manager has
to carefully analyze
Production
Cost
Potential Market
Size
Marketing
Cost
Competition
Capital Investment
Required
Price Of
Product
16. • Risk analysis involves quantitative and
qualitative risk assessment, risk management
and risk communication and provides managers
with a better understanding of the risk and the
benefits associated with a proposed course of
action.
• The decision represents a trade-off between the
risks and the benefits associated with a particular
course of action under conditions of uncertainty.
17. (2) Decision Tree
It considered to be one of the
best ways to analyze a
decision.
• A decision-tree approach
involves a graphic
representation of
alternative courses of
action and the possible
outcomes and risks
associated with each
action.
18. Cont...
• A decision tree is graphic display of the relationship
between a present decision and possible future
event, future decision and their consequences.
• It indicates the sequence of events, which is
mapped out in a form of resembling the branches
of tree.
19. By means of a “tree” diagram depicting the decision
points, chance events and probabilities involved in
various courses of action, this technique of decision-
making allows the decision-maker to trace the optimum
path or course of action
20. Various steps involved in decision tree
analysis are
1. Identification of the problem;
2. Finding out the alternatives;
3. Exhibiting the decision tree indicating the
decision points, chance events, and other
relevant data;
4. Specification of probabilities and monetary
values for cash inflows;
5. Analysis of the alternatives
21. (3) Preference or Utility Theory
• This approach is based on the notion that
individual attitudes towards risk vary.
• Some individuals are willing to take only
smaller risks (risk averters), while others are
willing to take greater risks (gamblers).
• Statistical probabilities associated with the
various courses of action are based on the
assumption that decision-makers will follow
them.
22. • For Example, if there were a 60 percent chance of a
decision being right, it might seem reasonable that a
person would take the risk. This may not be
necessarily true as the individual might not wish to
take the risk, since the chances of the decision being
wrong are 40 percent.
• The attitudes towards risk vary with events, with
people and positions.
23.
24. • Cost Benefit Analysis can be traced back to the 19th century by
a French engineer & economist Jules Dupuit.
• In 1936, it is a simple way of weighing up project costs and
benefits, to determine whether to go ahead with a project or
not.
Jules Dupuit.
History :
25. • Cost is the value of money that has
been used up to produce
something, and hence is not
available for use anymore
• Benefit are the monetary values of
desirable consequence of economic
policies and decisions
26. Cost Benefit Analysis (CBA)
• It is an economic evaluation technique that
measures all the positive (beneficial) and
negative (costly) consequences of an
intervention or program in monetary terms.
• The valuation of all program outcomes in
monetary units allows decision makers to
directly compare the outcomes of different
types of interventions
27. • CBA has been established primarily as a tool
for use by governments in making their social
and economic decisions.
• CBA is a process for evaluating the merits of a
particular project in a systematic way in terms of
cost and benefit’s of the project.
• The benefits of a given situation or business-
related action are summed, and then
the costs associated with taking that action are
subtracted.
28. Any negative effect on an
organization resulting from the
implementation of the project.
Examples:
1. maintenance costs
2.Environment
3.Research and development
4. Labour costs
A benefit is any positive effect
on the organization resulting
from the implementation of
the project.
Examples:
1. increase in productivity
2. reduction in costs
3. Saving Time
4. Decrease road congestion
COST BENEFIT
29. Why Cost Benefit Analysis.???
Cost Benefit Analysis is used to determine:
whether a solution/project is economically feasible
which of two or more projects provides the best
return on investment
Other issues :
Is the project worthwhile financially?
Is it the best option?
Should it be undertaken at all?
30. The steps in CBA
1
• Determine the value of benefits
2
• Determine the costs
3
• To allow a comparison of costs and
benefits
31. 1. Determine the value of benefits from a project
where benefits are defined as the value of the
additional goods and services flowing from the
project.
2. Determine the costs of the project where costs
are defined as the value of goods and services
that would otherwise have been produced if the
project did not proceed. Costs are opportunity
costs only.
3. To allow a comparison of costs and benefits at
different times over the life of the project, all
costs and benefits have to be reduced to a
comparable and additive value (a dollar today is
not worth the same as a dollar tomorrow!).
32. Advantages of CBA
• Simplicity
• Estimation
• Common Unit of Measure
• CBA delivers an efficient out come
• CBA helps govt decide whether or not to carry
out large public sector projects
• CBA helps to prioritizing one project with another
• CBA also dealing with Opportunity Cost.
33. Challenges of CBA
Accuracy problem
1) Inaccurate cost and benefit estimation
2) Rely heavily on similar projects of past
3) Rely heavily on project members
4) Can’t avoid the unconscious bias of team
members
34.
35. Resource
An economic or productive factor required to
accomplish an activity, or as means to undertake
an enterprise and achieve desired outcome.
Three most basic resources are land, labour, and
capital; other resources include energy,
entrepreneurship, information, expertise,
management, and time.
36. Resource Management
Resource management is the efficient and effective
arrangement and allocation of an organization's
resources when and where they are needed. Such
resources may include financial resources, inventory,
human skills, production resources, or information
technology.
37. Cont...
Resource management includes planning, allocating
and scheduling of resources to tasks, which typically
includes manpower, machine money and material.