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SUCCESSFUL MODELS I HAVE KNOWN *
Author(s) -
ARNOFF E. LEONARD
Publication year - 1971
Publication title -
decision sciences
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.238
H-Index - 108
eISSN - 1540-5915
pISSN - 0011-7315
DOI - 10.1111/j.1540-5915.1971.tb01449.x
Subject(s) - variety (cybernetics) , computer science , management science , operations research , artificial intelligence , mathematics , engineering
Formal education equips the modern decision scientist with an ample bag of mathematical tools. Among these are a wide variety of models, supplemented by techniques for creating new models and augmenting old ones. The purpose of a model, however, is not to serve only as a classroom exercise, but, rather, to represent reality in mathematical terms. Therefore, the performance of a model under real‐life conditions determines its success or failure. In this paper, the author examines the characteristics of successful models, concentrating on the potential pitfalls in both the formulation and implementation stages. Finally, the author discusses the implications of his views for business schools, especially in terms of the improvements in course requirements and teaching techniques which are needed to prepare students of quantitative methods for careers as effective decision scientists.