Decision Analysis

H. A. Eiselt and Carl-Louis Sandblom
Additional contact information
H. A. Eiselt: University of New Brunswick
Carl-Louis Sandblom: Dalhousie University

Chapter 10 in Operations Research, 2022, pp 353-383 from Springer

Abstract: Abstract Everywhere in the world, at each moment, millions of people make their own decentralized decisions: when to get up in the morning, what tie to wear, what to eat for lunch or dinner, what to do in the evening (go to the theater or watch television), where to vacation, and many more. Similarly, firms will decide which mode of transportation to use when routing their products to customers, where to locate regional distribution centers, what new product lines to develop, etc. This chapter first introduces the main elements of decision analysis, and then offers some visualizations of decision analysis problem. This is followed by a discussion of some simple decision rules, sensitivity analyses, and a discussion of the value of information. The chapter wraps up the discussion by some thoughts on utility theory.

Date: 2022
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

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:spr:sptchp:978-3-030-97162-5_10

Ordering information: This item can be ordered from
http://www.springer.com/9783030971625

DOI: 10.1007/978-3-030-97162-5_10

Access Statistics for this chapter

More chapters in Springer Texts in Business and Economics from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().