LEADER 04584nam 22007095 450 001 9911015852803321 005 20250702130336.0 010 $a3-031-88638-0 024 7 $a10.1007/978-3-031-88638-6 035 $a(MiAaPQ)EBC32189429 035 $a(Au-PeEL)EBL32189429 035 $a(CKB)39567927100041 035 $a(OCoLC)1526860824 035 $a(DE-He213)978-3-031-88638-6 035 $a(EXLCZ)9939567927100041 100 $a20250702d2025 u| 0 101 0 $aeng 135 $aurcnu|||||||| 181 $ctxt$2rdacontent 182 $cc$2rdamedia 183 $acr$2rdacarrier 200 14$aThe Unaffordable Price of Static Decision-making Models $eChallenges in Economics and Management Science /$fedited by Fouad El Ouardighi, Gustav Feichtinger 205 $a1st ed. 2025. 210 1$aCham :$cSpringer Nature Switzerland :$cImprint: Springer,$d2025. 215 $a1 online resource (333 pages) 225 1 $aInternational Series in Operations Research & Management Science,$x2214-7934 ;$v365 311 08$a3-031-88637-2 327 $aTurning the page -- On the use of dynamic models in economics -- What to do with uncertainties? -- Optimization in age-structured dynamic economic models -- A vindication of open-loop equilibria in differential games -- A linear state game of advertising à la Vidale-Wolfe -- The cost of myopia with respect to a switching time in an advertising model -- The limits of static decision-making rules in supply chain management -- On the rebound effect of cleaner technologies and climate change: radical technology innovations needed -- On the effects of an increase in the number of abaters in pollution abatement games -- Agroecology and biodiversity: A benchmark dynamic model -- Open-loop control-based linear-quadratic stochastic game with application to counter terror: Farsighted versus myopic policies. 330 $aAt the 15th Viennese Workshop on Optimal Control and Dynamic Games, held in July 2022, experts in economics and the management sciences identified a concerning trend: static decision-making models, while less effective than dynamic ones, are becoming increasingly prevalent. This book aims to address the economic and social costs associated with reliance on static models and to demonstrate the advantages of applying dynamic approaches. Static models may be easier to formulate, but they often overlook the long-term consequences of decisions, promoting myopic practices that can lead to poor outcomes. In contrast, dynamic models foster a more comprehensive perspective, enabling foresight in decision-making ? which is crucial for issues involving stock variables, such as pollution, reputation, and inventory. The book explores the limitations of static models, including their inability to capture long-term outcomes, history-dependent solutions, and the impact of abrupt contextual changes. It also highlights recent advances in dynamic modeling techniques that can enhance accuracy and help adapt to complex decision-making environments. By promoting the shift from static to dynamic models, this book aspires to open new research opportunities and provide valuable insights for researchers, students, policymakers, and managers in the fields of economics and the management sciences. 410 0$aInternational Series in Operations Research & Management Science,$x2214-7934 ;$v365 606 $aOperations research 606 $aProduction management 606 $aMathematical optimization 606 $aManagement science 606 $aSystem theory 606 $aControl theory 606 $aOperations Research and Decision Theory 606 $aOperations Management 606 $aOptimization 606 $aOperations Research, Management Science 606 $aSystems Theory, Control 615 0$aOperations research. 615 0$aProduction management. 615 0$aMathematical optimization. 615 0$aManagement science. 615 0$aSystem theory. 615 0$aControl theory. 615 14$aOperations Research and Decision Theory. 615 24$aOperations Management. 615 24$aOptimization. 615 24$aOperations Research, Management Science. 615 24$aSystems Theory, Control. 676 $a658.403 700 $aEl Ouardighi$b Fouad$01833067 701 $aFeichtinger$b Gustav$0104300 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9911015852803321 996 $aThe Unaffordable Price of Static Decision-Making Models$94407894 997 $aUNINA