Decision Analysis

Franz Eisenführ

• 01 september 2010
• 9783642028502

Samenvatting:

These developments have elevated prescriptive decision theory to the status of an important discipline with increasingly strong practical ties – nowadays, even m- agers are concerned with decision trees, probability distributions and risk profiles.

This textbook conveys methods that can improve decision making processes in various fields such as economics, politics, and medicine as well as in personal life. Areas of focus are decision making under conflicting objectives, decision making under risk and uncertainty, decision making with incomplete information about individual preferences or probabilities, and the consideration of time preferences. Special emphasis is placed on the procedures` and concepts`applicability. Explicit sample applications show the methods` benefit for a wide area of decision making problems. Exercises from daily life make it easy for the reader to understand the key insights from decision analysis.