Decision Making Structures Dealing with Uncertainty within Organizat

This book is the cuhnination of many years' research inspired by the pioneering and seminal works of Sah and Stiglitz. We gratefully acknowledge the influence of these two authors, whose ideas and contributions have brought us together on this collabo­ ra

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Contributions to Management Science Ulrich A. W. Tetzlaff 0pIImaI n.Ip ~ I'IaIbIe MuuIacturiaK

s,....

1990, 190 paps. Softcover OM 69,-

ISBN 3-7908-0S16-5

Fred VOD Gunten CompetltIoa ID the SwIll PIasIia M ............. 1DduIIry 1991,408 paps. Softcover OM 120,ISBN 3-7908-0541-6 Harald Dyc:khotflUte Finke CuttiDg and Paddag ID Production and DIstribution 1992, 248 paps. Hardcover OM 120,ISBN 3-7908-0630-7

Hagen Ie. C. Pfeiffer The DiIrDIlon of EIec:troDlc Data Jntercbaap 1992, 257 paps. Softcover OM 85,ISBN 3-7908-0631-5

Evert Ian StolddnglGiovllllDi Zambnmo (Eds.) Recent Research ID Fbumcial ModeIIiDg 1993, 174 paps. Softcover OM 90,-

ISBN 3-7908-0683-8

Richard Flavell (EeL) ModeIIIDg Redly and PenoaaI ModeIIiDg 1993,407 pages. Softcover OM 120,ISBN 3-7908-0682-X

Lorenzo PeccatilMatti Vu6n (Eds.) FiDanciaI ModellIng 1994, 364 paps. Softcover OM 98,ISBN 3-7908-0765-6

Michael Hofmann/Monika List (Eds.) PBycholmalysis and MaDagement 1994,392 paps. Softcover OM 120,ISBN 3-7908-0795-8 Rita L O'EcclesialStavros A. Zenios (Eds.) OperatioDl Research Models in Quantitative Fbumce 1994,364 pageS. Softcover OM 85,ISBN 3-7908-0803-2

Mario S. Catalani . Giuseppe F. Clerico

Decision Making Structures Dealing with Uncertainty within Organizations

With 15 Figures

Physica-Verlag A Springer-Verlag Company

Series EdIton Werner A MUller Peter Schuster

Authon Dr. Mario S. Catalani Dr. Giuseppe F. Qerico Department of Economics University of Torino

Via Po 53 1-10124 Torino, Italy

Die Deutsche Bibliothek - CIP-Einheitsaufnahme Dec:lslon making structures: dealing with uncertainty within organizations / Mario S. Catalani ; Giuseppe F. Clerico. Heidelberg: Physica-Verl., 1996 (ContributiollJ to management sciences) ISBN 978-3-7908-0895-7 ISBN 978-3-M2-50138-8 (eBook) DOl IO.I007/978-3-M2-50138-8 NE: Catalani. Mario S.; Clerico, Giuseppe F.

Printed with a contributioo of the UDiversit4 degJi Studi eli Torino, Dipartimento eli Economia

ISBN 978-3-7908-0895-7 This work is subject to copyright. All rights are reserved, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilm or in any other way, and storage in data baDks.Duplication of this publication or parts thereof is permitted only under the provisions of the German Copyright Law of Septembec 9, 1965, in its current venion, and permission for usc must always be obtsined from Springer-Verlag. Violations are liable for prosecution under the German Copyright Law. C Department of Economics, UDivenity of Torino 1996

The usc of general descriptive names, registered names, trademarks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general usc.

SPIN 10522478

8812202 - 5 4 3 2 1 0 - Printed on acid-free paper

PREFACE

This book is the cuhnination of many years' research inspired by the pioneering and seminal