The authors attempt to carry out an analysis of the teaching process from the position of the utility theory and the social choice theory. They also stress the role of the value theory in the analysis of this process. The role of e-learning is also emphasized in the article.
Risk is a category that is inseparably connected with uncertainty and probability, which means that the nature of risk as a category of science is complex, and the concept of risk is very difficult to define by one conceptual system of modern science. Due to the above, the main research hypothesis of the work is oriented to the assumption that the complexity of the risk category is determined by the diversity (variety) of reality, as a result of which in science there is currently no uniform methodology for risk assessment and estimation. As a result, the main goal of the article is to describe the research area based on selected representative methods of risk estimation and logical decision-making schemes, as well as to systematise the knowledge about the methodology used in them. In the article, the authors illustrate risk estimation with examples developed by themselves and quoted from various fields of science, differing from one another in formal terms in quantitative and qualitative (numerical and content-verbally) dimensions. Strategic risk, risk of fraction estimation, Bayesian risk, Bayesian methods for estimation of population distribution parameters, risk of econometric model assessment, interest rate risk, banking risk, and adverse event as a measure of risk are here addressed. The article also focuses on the problem of risk estimation in terms of the theory of fractals. The work is to have not only cognitive but also practical meaning. The created source of knowledge should prove helpful for decision-makers in the area of management since effective process management requires the expertise of risk estimation in various dimensions and using various mathematical tools.
Purpose: The main goal of the article is to emphasize the role of process diversity in decision making and management. Additionally, the contribution of the random factor in the behavior of processes and the related management factor of such processes was analyzed. Design/Methodology/Approach: Due to their complexity, multivariate and multivariate random processes are difficult to research, so they are more mysterious to put them into mathematical forms. The methodology of recognizing such processes used in the work (article) combines two fields of science, information theory and stochastic processes (Markov chains). Findings: The methodological approach adopted by the authors to the set goal of the study, i.e., to study the diversity of Nature's processes, allowed to formulate a conclusion: one can compare the behaviors of different processes, compare their behavioral diversity in the entropy dimension, regardless of the number of their conservation states. Practical Implications: The results (conclusions) obtained from the research allow for their application in practice, and in a wide range. Because you can compare the indeterminacy (entropy) of two (or several) qualitatively different random processes. So, basically to predict a more stable behavior in relation to another given random process, or less stable. Originality/value: The novelty of the content of the article is, as already mentioned above, the combination of sciences and their research methods in relation to the formulated goal of the article.
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