A Decision Theoretic Solution for a Bidding-Work Loading Game
Abstract
The extensive form of decision analysis is used to generate tables which permit a decision maker to determine an optimal course of action after making a simple calculation. Presentation of the partial solution permits substantial reduction in the volume of material which must be tabulated. Judicious choice of state relationships at each stage further decreases the volume, thus providing an example of how large scale decision problems can be made more tractable. The game, which constrains work capacity and permits interaction between years, is solved using expected increase in future assets as the decision variable.
Document Details
- Document Type
- Technical Report
- Publication Date
- Feb 29, 1972
- Accession Number
- AD0741332
Entities
People
- Thomas P. Tytula