Influence Diagrams for Team Decision Analysis

Apiruk Detwarasiti () and Ross D. Shachter ()
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Apiruk Detwarasiti: The Boston Consulting Group (Thailand), 37th Floor, U-Chu-Liang Building, 968 Rama IV Road, Bangkok 10500, Thailand
Ross D. Shachter: Department of Management Science and Engineering, School of Engineering, Stanford University, 380 Panama Way, Stanford, California 94305-4026

Decision Analysis, 2005, vol. 2, issue 4, 207-228

Abstract: We consider the representation and evaluation of team decision making under uncertainty using influence diagrams. We assume that all team members agree on common beliefs and preferences, but complete sharing of information is generally impossible. As a result, the team can be represented as a single rational individual with imperfect recall, and the optimal solution with perfect recall might not be achievable, except in special cases we can recognize. An alternative solution concept is a stable solution that integrates the notion of optimality with that of equilibrium from game theory. We extend this concept from individual decisions to sets of decisions, and introduce the Strategy Improvement and its variation, Uniform Strategy Improvement, as the corresponding solution methods. We also provide a variety of simplifying transformations to the influence diagram by exploiting its graphical structure. The result is a requisite influence diagram, one that requires minimum assessment and creates additional opportunities for optimality.

Keywords: team decision analysis; requisite influence diagram; imperfect recall; incomplete sharing of information; stability; uniform strategy improvement; strategic irrelevance (search for similar items in EconPapers)
Date: 2005
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Citations: View citations in EconPapers (8)

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Persistent link: https://EconPapers.repec.org/RePEc:inm:ordeca:v:2:y:2005:i:4:p:207-228

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