decisions under risk
风险决策
There is usually little assurance that predicted futures will coincide with actual futures. The
没有什么能担保预期的未来和实际的未来相一致。
physical and economic elements on which a course of action depends may vary from their
人类一系列行动所依赖的自然和经济要素,由于某些巧合因素,可能与它们的预期值有所出入,
estimated values because of chance causes. Not only are the estimates of future costs
不仅对未来的预期成本错综复杂,
problematical but ,in addition, the anticipated future worth of most ventures is known only with
而且,大部分风险投资的未来预期价值也只是通过保险额度获知。
a degree of assurance. This lack of certainty about the future makes decision making one of
对未来的确定性的匮乏使得决策制定成为对个体,行业,政府而言最具
the most challenging tasks faced by individuals ,industry ,and government.
挑战性的任务之一
Decision making under risk occurs when he decision maker does not suppress
当决策制定者意识到(承认)对未来的认知并不完整,相应的风险存在,
acknowledged ignorance about the future but makes it explicit through the assignment of
风险决策制定就会有其用武之地。
probabilities ,such probabilities may be based on experimental evidence , expert opinion
通过基于实验证据,专家观点,主观判断或者以上组合的方式给出的可能性评估,来帮助决策制定者制定详尽完善的决策。
,subjective judgment ,or a combination of these.
Consider the following example. A computer systems firm has the opportunity to bid on two
考虑下面列子。一个计算机系统公司有机会参与两个
related contracts being advertised by a municipality. The first pertains to the selection and
受到当地政府推广关联商业合同的投标。第一份合同涉及
installation of hardware for a central computing facility together with required software. The
一个中心计算设备的硬件的选型和安装及相关软件的处理。第二份合同
second involves the development of a distributed computing network involving the selection
包含一个分布式计算网络的研发,当中同样涉及相关硬件和软件的选型和安装。
and installation of hardware and software. The firm may be awarded either contract C1 or
该公司可能拿到两个合同当中的一个,或者拿到全部的合同,因此,存在三种可能的结局。
contract C2, or both contract C1 and C2. Thus, there are three possible futures.
Careful consideration of the possible approaches leads to the identification of five
经过对可能的处理方式的仔细考虑后,产生五种选择以待决策。
alternatives. The first is for the firm to subcontract the hardware selection and installation, but
对于该公司,第一种选择是将硬件选型和安装转包给其他公司,自己研发其中的软件部分;
to develop the software itself. The second is for the firm to subcontract the software
第二种选择是将软件研发部分转包给其他公司,
development, but to select and install the hardware itself. The third is for the firm to handle
自己负责硬件的选型和安装工作;第三种选择是自己公司处理全部的硬件和软件业务;
both the hardware and software tasks itself. The fourth is for the firm to bid jointly with a
第四种选择是联合一家其他公司来竞投标全部的硬件和软件项目;
partner firm on both the hardware and software projects. The fifth alternative is for the firm to
第五种选择是将硬件和软件业务全部转包给其他公司,
serve only as project manager, subcontracting all hardware and software tasks.
自己担当项目经理人的角色。
With the possible futures and various alternatives identified, the next step is to determine
在对未来可能的选择和不同选择的罗列和甄别之后,接下来便是确定收益值
payoff values.
决策下的风险
通常很少断言预期的是和未来是相一致的,行动的过程取决于它物理和经济上的的价值,而由于运气机遇的原因,不仅在未来估算上成问题,而且对大多数的初创企业对未来的预期值也只能做一定程度的风险保证。这必然是政府,企业、个人缺乏所要面对的许多具有挑战性任务中的一个具有决定性的决策