Managerial Logic (PDF)

The publication of the first book by Kenneth Arrow and Hervé
Raynaud, in 1986, led to an important wave of research in the field
of axiomatic approach applied to managerial logic. Managerial Logic
summarizes the prospective results of this research and offers
consultants, researchers, and decision makers a unified framework
for handling the difficult decisions they face.

Based on confirmed results of experimental psychology, this book
places the problem in a phenomenological framework and shows how
the influence of traditional methods has slowed the effective
resolution of these problems. It provides a panorama of principal
concepts and theorems demonstrated on axiomatized methods to guide
readers in choosing the best alternatives and rejecting the worst
ones. Finally, it describes the obtained extensions, often
paradoxical, reached when these results are extended to
classification problems.

The objective of this book is also to allow the decision maker to
find his way through the plethora of "multicriterion
methods" promoted by council organizations. The meta-method
it proposes will allow him to distinguish the wheat from the
chaff.

The collaboration with Kenneth Arrow comes essentially from the
fact that his work influenced all subsequent works quoted in this
book. His famous impossibility theorem, his gem of a PhD thesis,
and his various other works resulted in him receiving the Nobel
Prize for economy just before meeting Hervé Raynaud who was at
that time a visiting professor at Berkeley University in
California. Their mutual publications serve as the basis for the
axiomatic approach in multicriterion decision-making.