The Reconciliation of Decision Analyses

Dennis V. Lindley
Additional contact information
Dennis V. Lindley: Decision Science Consortium, Falls Church, Virginia

Operations Research, 1986, vol. 34, issue 2, 289-295

Abstract: A decision problem can be structured in many different ways. This paper addresses a few of the problems that arise as a result of this diversity; for instance, is a particular structuring method worth doing: is the effort likely to be rewarding? Further considerations arise when two or more methods are used and must be combined. Any rule of combination must attach weights, that depend on errors in the analyses, to the results. Consequently, the questions of errors both at random and decision nodes require discussion. We show that errors at decision nodes produce biases. A basic idea underlying our argument is the concept of true utilities and probabilities: we include a discussion of this concept.

Keywords: 91; analysis; of; errors; in; decision; trees (search for similar items in EconPapers)
Date: 1986
References: Add references at CitEc
Citations: View citations in EconPapers (5)

Downloads: (external link)
http://dx.doi.org/10.1287/opre.34.2.289 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:inm:oropre:v:34:y:1986:i:2:p:289-295

Access Statistics for this article

More articles in Operations Research from INFORMS Contact information at EDIRC.
Bibliographic data for series maintained by Chris Asher ().