Rapid Screening of Decision Options.
Abstract
Decision analysis is a formal method for dealing with decision making under uncertainty that takes into account the decision maker's many options, the possible uncertain events that may occur, the probabilities of occurrence of various outcomes of these events, and the decision maker's utility or value for consequences of different combinations of options and outcomes. By means of the format of decision trees or diagrams, the decision situation can be presented graphically and, in particular, the possible decisions and events clearly enumerated and the sequential nature of the decision process shown. This paper discusses a method, applicable to some decision problems, for reducing the analysis to a small, rather manageable set of simple options and a limited number of uncertain outcomes. This technique is called rapid screening of decision options.
Document Details
- Document Type
- Technical Report
- Publication Date
- Oct 01, 1976
- Accession Number
- ADA035386
Entities
People
- Judith Selvidge