Open AccessDecision Analysis Framing and Motivation Application in Business and Tourism
Author(s) -
Iosif Kafkalas
Publication year - 2018
Publication title -
european journal of economics and business studies
Language(s) - English
Resource type - Journals
eISSN - 2411-9571
pISSN - 2411-4073
DOI - 10.2478/ejes-2018-0045
Subject(s) - certainty , framing (construction) , tourism , decision analysis , knightian uncertainty , framing effect , rationality , economics , computer science , psychology , ambiguity , social psychology , engineering , political science , mathematics , geometry , structural engineering , mathematical economics , persuasion , law , programming language
This article examines the implications of framing in decision analysis and proposes a tool under rationality that incorporates attributes of behavioral models. The proposed approach suggests that decision agents make an overall assessment of their state-conditional alternatives in association with exogenous environmental and social factors, resulting in an overall score of urgency that can be considered as the resource pool of motivation. The process is formulated as a state-contingent input-requirement set and it is able to explain behavioral biases such as the certainty and pseudo-certainty effects, issues of Knightian uncertainty, risk management and innovation. A Data Envelopment Analysis (DEA) formulation is also presented and an application of case analysis on business and tourism.