Write a 1,500-word academic paper, in Microsoft Word format, that describes and analyses an adapted version of an individually selected real world decision by applying the tools and concepts introduced in DMS during the semester.
The description of the decision should reflect on the 6 components of decisions introduced in the semester and include the effects of uncertainty, risk and time horizon just as well as the strategic aspects in case other stakeholders are involved. Relevant information should be collected only from reliable sources. Missing parameters can be substituted with reasonable assumptions, if necessary.<
The analysis needs to apply in detail either (a) a detailed cost-benefit analysis based on relevant real-world information, data or (b) a strategic analysis (find dominant/dominated strategies, Nash equilibrium, first mover advantage, etc.). Students should attempt to develop arguments for/against the actual decision(s) selected, highlight potential improvements and characterise the optimal decision with respect to each decision maker involved. The analysis may also take into consideration the potential changes in the expected outcome caused by (a) sequential action (first/second mover advantage), (b) some advanced and successful strategic moves (mixed strategy, credible and effective threats/rewards, commitment, etc.), (c) changes in some critical characteristics of some decision makers (time or risk preferences, behavioural, emotional and cultural factors, etc.). Logical application of concepts and tools should be part of an above average paper.
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