A Study on Strategic Points for Decision Making Under Time Constraint

Abstract

In this study, we discuss a theory on process for decision making under time constraint which is uncommon or asynchronous among two or bilateral decision makers. The problem on time constraint is to evaluate cost of time or value of the entire duration of a certain process for decision making. We propose a formula to compute cost of time by introduction of opportunity cost to its evaluation. We also propose a set of strategic points under asynchronous time constraint among bilateral decision makers. We have conducted a feasibility check on our proposed formulas on cost of time and the strategic points in their applications to a case study.

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