Fibonacci Hierarchies for Decision Making

Yucel, Eray and Tokel, Emre (2010): Fibonacci Hierarchies for Decision Making.

Abstract

All decisions are practically made within a chainwise social setup named a decision-making chain (DMC). This paper considers some cases of an idea (a project proposal) propagating through an organizational DMC. Survival of a proposal through successive links of the DMC depends on the relative power of those links, in addition to proposal’s intrinsic value. Then it is not impossible to reject a good proposal or to fail to reject a bad proposal, either of which may generate undesired, though not detrimental, outcomes. We consider here a simple metric to assess quality of decision-making. The notion of quality here derives from “not declining (not accepting) a project that is of high (poor) intrinsic value”. As Fibonacci series establish the mathematical basis of our proposed metric, metric is simply named a Fibonacci metric.

• Item Type: MPRA Paper
• Language: English
• Keywords: Decision making chains; Innovation; Fairness metric; Fibonacci series
• Subjects: Z - Other Special Topics > Z1 - Cultural Economics ; Economic Sociology ; Economic Anthropology; C - Mathematical and Quantitative Methods > C0 - General > C00 - General; A - General Economics and Teaching > A1 - General Economics

References

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