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The Role of Information Feedback in the Management Group Decision-Making Process Applying System Dynamics Models

Author

Listed:
  • Andrej Škraba

    (University of Maribor)

  • Miroljub Kljajić

    (University of Maribor)

  • Mirjana Kljajić Borštnar

    (University of Maribor)

Abstract

The research project addresses the influence of feedback information on the decision process supported by the application of system dynamics models. A user-friendly application was developed and used in the experiment with decision groups. The participants were 174 undergraduate management science students. They had the task of determining the optimum business strategy by maximizing the multiple criteria function under three experimental conditions: a 1) an indivIDual decision process without the support of a system dynamics model, a 2) an indivIDual decision process supported by a system dynamics model, and a 3) a decision process supported by a system dynamics model and subject interaction via computer mediation. The hypotheses that the indivIDual decision process supported by a system dynamics model yields higher Criteria Function values than one without a system dynamics model, as well as the decision process supported by both a system dynamics model and subject interaction yields higher Criteria Function values than one supported by a system dynamics model alone were confirmed.

Suggested Citation

  • Andrej Škraba & Miroljub Kljajić & Mirjana Kljajić Borštnar, 2007. "The Role of Information Feedback in the Management Group Decision-Making Process Applying System Dynamics Models," Group Decision and Negotiation, Springer, vol. 16(1), pages 77-95, January.
    • Handle: RePEc:spr:grdene:v:16:y:2007:i:1:d:10.1007_s10726-006-9035-9
    DOI: 10.1007/s10726-006-9035-9
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    References listed on IDEAS

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    Cited by:

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    3. Franco, L. Alberto & Hämäläinen, Raimo P. & Rouwette, Etiënne A.J.A. & Leppänen, Ilkka, 2021. "Taking stock of behavioural OR: A review of behavioural studies with an intervention focus," European Journal of Operational Research, Elsevier, vol. 293(2), pages 401-418.
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    6. Scott, Rodney J & Cavana, Robert Y & Cameron, Donald, 2016. "Recent evidence on the effectiveness of group model building," European Journal of Operational Research, Elsevier, vol. 249(3), pages 908-918.
    7. Federico Cosenz & Guido Noto, 2016. "Applying System Dynamics Modelling to Strategic Management: A Literature Review," Systems Research and Behavioral Science, Wiley Blackwell, vol. 33(6), pages 703-741, November.

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