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Incorporating the status quo effect into the decision making process: the case of municipal companies merger

Kubińska, Elżbieta, Adamczyk-Kowalczuk, Magdalena, Andrzejewski Mariusz, Rozakis Stylianos

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URIhttp://purl.tuc.gr/dl/dias/B042ACC2-DB60-415C-9F83-A8014A91BF88-
Identifierhttps://doi.org/10.1016/j.seps.2022.101391-
Identifierhttps://www.sciencedirect.com/science/article/pii/S0038012122001860-
Languageen-
Extent13 pagesen
TitleIncorporating the status quo effect into the decision making process: the case of municipal companies mergeren
CreatorKubińska, Elżbietaen
CreatorAdamczyk-Kowalczuk, Magdalenaen
CreatorAndrzejewski Mariuszen
CreatorRozakis Stylianosen
CreatorΡοζακης Στυλιανοςel
PublisherElsevieren
Content SummaryDecision-making for cooperation between municipal entities involves elected members serving public interest who argue in both quantitative (e.g. financial performance), and qualitative (e.g. social acceptance) grounds. Policy support should consider conflicting objectives in a context of uncertainty and imprecision as well as in presence of organizational lock-ins that tend to favor incumbent arrangements. In search of appropriate algorithm to support decision making in such cases we opted for the PROMETHEE outranking method integrating novel findings of behavioral theory. Thus its preference functions are specified so that they reflect bounded rationality that shapes risk attitudes of decision makers within the uncertain environment of public management. Moreover alternative weighting procedures have been applied for group decisions. The prospect theory multi-criteria methodology, termed PT-PROMETHEE is implemented relating proposed options to observed behavior providing useful insights especially regarding status quo options also allowing for sensitivity analysis. Thus acceptance of MCDM support by the stakeholders is enhanced leading to solid compromise institutional arrangements.en
Type of ItemPeer-Reviewed Journal Publicationen
Type of ItemΔημοσίευση σε Περιοδικό με Κριτέςel
Licensehttp://creativecommons.org/licenses/by-nc-nd/4.0/en
Date of Item2024-01-03-
Date of Publication2022-
SubjectMunicipal companiesen
SubjectMergers and acquisitionsen
SubjectMulti-criteria decision analysisen
SubjectPROMETHEEen
SubjectProspect theoryen
Bibliographic CitationE. Kubińska, M. Adamczyk-Kowalczuk, M. Andrzejewski, and S. Rozakis, “Incorporating the status quo effect into the decision making process: the case of municipal companies merger,” Socio-Econ. Plan. Sci., vol. 84, Dec. 2022, doi: 10.1016/j.seps.2022.101391.en

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