Complex Decision-Making in Economy and Finance

Complex Decision-Making in Economy and Finance

Pierre Massotte, Consultant
Patrick Corsi, Consultant


ISBN : 9781786305022

Publication Date : January 2020

Hardcover 372 pp

165.00 USD

Co-publisher

Description


Pertinent to modern industry, administration, finance and society, the most pressing issue for firms today is how to reapproach the way we think and work in business.

With topics ranging from improving productivity and coaxing economic growth after periods of market inactivity, Complex Decision-Making in Economy and Finance offers pragmatic solutions for dealing with the critical levels of disorder and chaos that have developed throughout the modern age.

This book examines how to design complex products and systems, the benefits of collective intelligence and self-organization, and the best methods for handling risks in problematic environments. It also analyzes crises and how to manage them. This book is of benefit to companies and public bodies with regards to saving assets, reviving fortunes and laying the groundwork for robust, sustainable societal dividends. Examples, case studies, practical hints and guidelines illustrate the topics, particularly in finance.

Contents


Part 1. Dealing with Complexity
1. Engineering Complexity within Present-Day Industrial Systems.
2. Designing Complex Products and Services.
3. Engineering and Complexity Theory: A Field Design Approach.
4. Organizational Constraints and Complexity Theory: Modeling with Agents.
5. Complexity and the Theory of Organizations: Implementation of Collective Intelligence.
6. Complexity and the Theory of Organizations: The Notion of Collective Patterns.
7. Complexity and Theory of Organizations: Structure and Architecture of an Enterprise.
8. Complexity and the Theory of Organizations: Applications.
9. Complexity and the Theory of Organizations: Complex Systems Reengineering.
10. Evaluating and Measuring Complexity: The CINSYS Methodology.

Part 2. Dealing with Risk in Complex Environments
11. Underlying Mechanisms in Finance.
12. Physics and Social Networks: Domain Similarities.
13. Managing Behavioral Risks: Uncertainty and Catastrophes.
14. On Managing Risk in the Energy Domain: Conventional Problems Encountered.
15. On Managing Risk in the Financial Domain.
16. Why Current Tools Are Inadequate.
17. How to Manage Crises?
18. Managing Crises in Finance and Other Domains.
19. Technological, Monetary and Financial Crashes.

About the authors


Pierre Massotte is the I2D (Institut de l’Innovation et du Développement) Chairman. He was Deputy Director at École des Mines d’Alès within the Nîmes EMA Laboratory, France. He has previously worked for IBM in Quality, Advanced Technologies and Machine Learning. Formerly, he was also the AI Scientific Director at IBM EMEA Manufacturing and Development.

Patrick Corsi is a Senior Consultant, an Associate Practitioner with Mines Paris Tech, France, and a member of the Club of Rome EU Chapter. He was for a long time with IBM, THOMSON-CSF, a start-up in AI, and the European Commission in Brussels.