ISiM Special Lecture (4)

on

 

Decision Making and Information Systems 

by

 

 Prof. H. Raghav Rao

Professor

School of Management, MIS

Adjunct Faculty, Computer Science & Engineering

Director, Dept. of Management Science & Systems

University at Buffalo, State University of New York

&

Co-Editor-in-Chief, Information Systems Frontiers

 

Abstract of the Talk 

 

The International School of Information Management (ISiM), University of Mysore had organised a special lecture by Prof. Raghav Rao, Professor, School of Management, MIS, University at Buffalo, State University of New York on 10th of December at 3.00 p.m. at the ISiM premises.

 

Prof. Rao in his talk brought out the hidden side of apparently unrelated phenomenon to high light the importance of using information for good decision making. In his talk, entitled “Decision Making and Information System” Rao started telling stories about the following –

 

  • Why do Drug Dealers Stay with their Mothers?
  • How 7 million dependents died on one day, etc.
  • An air disaster and its connection to egg sales and bidding
  • The guard and car rental companies
  • Murder in New York city
  • How would you design a 4 ft by 4 ft by 8 ft bathroom?

 

Drawing upon the stories /observed phenomenon from couple of famous books such as Levitt and Dubner‘s Freakonomics to movies such as ‘Catch me if you can’ the talk brilliantly connected the above six stories and their underlying tenets of information systems, availability and integrity of information. It is all about the economics of information and behavioural economics. In all of the above scenarios, good decision making was tied to efficient information system design and implementation. Read more....