Capturing the high-risk environment of the transition economy in Bulgaria-a simulation-based DSS

Authors:
David L. Olson;Margaret Shipley;Madeline Johnson;Nikola Yankov
Affiliations:
Deparment of Management, University of Nebraska, Lincoln, NE 68588-0491, United States;University of Houston-Downtown, United States;University of Houston-Downtown, United States;Tsenov Academy of Economics, Svishtov, Bulgaria
Venue:
Decision Support Systems
Year:
2007

Citing 8
Cited 2

A simple view of the Dempster-Shafer theory of evidence and its implication for the rule of combination

AI Magazine
Fuzzy sets and fuzzy logic: theory and applications

Fuzzy sets and fuzzy logic: theory and applications
Fuzzy set theory—and its applications (3rd ed.)

Fuzzy set theory—and its applications (3rd ed.)
Fuzzy sets as a basis for a theory of possibility

Fuzzy Sets and Systems
Business Dynamics

Business Dynamics
Introduction to Simulation and Risk Analysis

Introduction to Simulation and Risk Analysis
Introduction to System Dynamics Modeling with Dynamo

Introduction to System Dynamics Modeling with Dynamo
Unifying business objects and system dynamics as a paradigm for developing decision support systems

Decision Support Systems

Comparative feasibility analysis of Wi-Fi in metropolitan and small municipalities: a system dynamics approach

International Journal of Mobile Communications
Modeling the benefit of e-recruiting process integration

Decision Support Systems

Quantified Score

Hi-index	0.00

Visualization

Abstract

Eastern European countries have undergone a transition from centralized economic planning to more open economic systems. Hard data based upon past experience are inappropriate for decision making in this radically changed environment. A team of Bulgarian and U.S. researchers utilized system dynamics simulation to model the microeconomic environment of a Bulgarian winery expanding into regional and international markets. Expert opinion was provided for both micro- and macroeconomic factors. Given the uncertainty of the data and the ambiguity in the experts' opinions, fuzzy logic was used to model the transitional economic firm's decision making.