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Thomas Langer () and Martin Weber
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Thomas Langer: Westfälischen Wilhelms-Universität Münster Lehrstuhl für BWL, insbesondere Finanzierung, Postal: Universitätsstraße 14-16 48143 Münster

No 98-57, Sonderforschungsbereich 504 Publications from Sonderforschungsbereich 504, Universität Mannheim, Sonderforschungsbereich 504, University of Mannheim

Abstract: In the last years the importance of decision analysis for real world decision making tasks has been widely noticed and stressed in the corporate, public and even in the private sector. Decision analysis is considered to be a prescriptive approach to decision making which delivers applicable methods for problem solving. It is based on specific rationality assumptions, but takes into account the bounded abilities of the decision makers at the same time. This paper provides an introductory course in decision analysis on an undergraduate level. It covers topics such as problem structuring, probability processing and expected utility theory, as well as multiattribute problems and sensitivity analysis. By the provision of easy examples and short case studies the applicability of the methods to real world problems is stressed.

Date: 1998-12-15
Note: Financial Support from the Deutsche Forschungsgemeinschaft, SFB 504, at the University of Mannheim, is gratefully acknowledged.
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