Decision-making under asymmetric and sequential information: A case of managing business schools, incentive compatible grading scheme, student's and professor's decision process in academia
Abstract
It has been questioned whether the community of higher education, such as universities, are being operated effectively. State universities are particularly subject to frequent criticism because of the more complex interest groups. This study recognized three main actors in a university. They are the students, professors, and the administrations. Problems faced by each of the actors are analyzed in relation to the behavior of other actors. It is done by adopting useful tools that have been proven effective in private sectors backgrounded by information economics. The first part of the paper deals with the university's problem of managing professors seem as a set of human asset. Portfolio management in mutual fund with its most prevalent risk management technique is adapted to the professor management. Second part of the study is devoted to the quality evaluation of students performance in the classroom. Total Quality Management concept is applied to instruction based to classes while groups decision support system is applied to case based discussion classes. Last part of the study observes two sequential decision making situations. One situation is students' time allocation strategy during a semester given sequential requirements from the course. The other situation is related to a similar problem by a newly hired professor until the tenure is attained. The situation were simulated using dynamic programming which allows sequential decision making. Proposed models are expected to improve the overall quality of higher education.
Degree
Ph.D.
Advisors
Altinkemer, Purdue University.
Subject Area
Management|Information Systems|Higher education|School administration
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