5.4. Decision analysis in engineering-economic modeling

Douglas M. Logan

Energy, 1990, vol. 15, issue 7, 677-696

Abstract: Decision analysis is a methodology for making decisions with uncertain outcomes and difficult trade-offs. Its purpose is to evaluate the alternatives available to a decision maker and to rank them in light of his information and preferences. The treatment of information and preferences is comprehensive: Decision analysis integrates whatever information is available-whether based on subjective judgment or on any level of modeling or information gathering-together with the consideration of all relevant outcomes (monetary or non-monetary) into the recommendation.

Date: 1990
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Persistent link: https://EconPapers.repec.org/RePEc:eee:energy:v:15:y:1990:i:7:p:677-696

DOI: 10.1016/0360-5442(90)90014-S

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