Knowledge management in decision making and decision support

A knowledge-oriented view of decisions and decision making is introduced, as a complement to classical perspectives and as a contribution of under-standing computer-based possibilities for relaxing strains on decision makers. This perspective includes a model of knowledge management activities performed by a decision maker and a taxonomy of knowledge types. It leads to a characterization of decision-support-system purpose, traits, and potentials that offers a basis for new research into computer-based possibilities for knowledge management. Clyde W. Holsapple holds the Rosenthal Endowed Chair in Management Information Systems and is Professor of Decision Science and Information Systems at the College of Business and Economics, University of Kentucky.     

A test of ve-theories of risk and the effect of the central limit theorem

There are several theories of risk which indicate that risk could be a function only of variance and expectation. A transformation on odds or skewness was constructed which left the variance and expectation of a gamble unchanged. Perceived risk was clearly a function of this transformation as well as variance and expectation, even under multiple play in which the effect of the central limit theorem modifies the effect of skewness but it remains a relevant variable.