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Explanation:The Economic Issues series aims to make available to a broad readership of nonspecialists some of the economic research being produced in the International Monetary Fund on topical issues. The raw material of the series is drawn mainly from IMF Working Papers, technical papers produced by Fund staff members and visiting scholars, as well as from policy-related research papers. This material is refined for the general readership by editing and partial redrafting.
The following paper draws on material originally contained in IMF Working Paper 97/42, "Deindustrialization: Causes and Implications," by Robert Rowthorn, Professor of Economics, Cambridge University, and Ramana Ramaswamy of the IMF’s Research Department. Neil Wilson prepared the present version. Readers interested in the original Working Paper may purchase a copy from IMF Publication Services
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Decision making is the process of evaluating alternatives and making choices among them. Two strategies that one may use to make decisions is the additive strategy and the elimination-by-aspects strategy. The additive strategy involves creating a list of attributes that affect the decision and then rating each alternative based on each attribute. This strategy is often used for simple choices. The elimination-by-aspects strategy eliminates alternatives based on their attributes and evaluates each attribute in order of importance. This strategy is often used for complex choices
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