Cover image for Making hard decisions with DecisionTools
Title:
Making hard decisions with DecisionTools
Edition:
3rd ed.
Publication Information:
Mason, OH : South-Western, Cengage Learning, c2014
Physical Description:
xxvi, 816 p. : ill. ; 24 cm.
ISBN:
9780538797573
Title Subject:
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35000000001580 HD30.23 C53 2014 Open Access Book Book
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Summary

Summary

MAKING HARD DECISIONS WITH DECISIONTOOLS#65533; is a new edition of Bob Clemen's best-selling title, MAKING HARD DECISIONS. This straightforward book teaches the fundamental ideas of decision analysis, without an overly technical explanation of the mathematics used in decision analysis. This new version incorporates and implements the powerful DecisionTools#65533; software by Palisade Corporation, the world's leading toolkit for risk and decision analysis. At the end of each chapter, topics are illustrated with step-by-step instructions for DecisionTools#65533;. This new version makes the text more useful and relevant to students in business and engineering.


Table of Contents

1 Introduction to Decision Analysis
Section I Modeling Decisions
2 Elements of Decision Problems
3 Structuring Decisions
4 Making Choices
5 Sensitivity Analysis
6 Organizational Decision Making
Section II Modeling Uncertainty
7 Probability Basics
8 Subjective Probability
9 Theoretical Probability Models
10 Using Data
11 Monte Carlo Simulation
12 Value of Information
13 Real Options
Section III Modeling Preferences
14 Risk Attitudes
15 Utility Axioms, Paradoxes, and Implications
16 Conflicting Objectives I: Fundamental Objectives and the Additive Utility Function
Section IV Addictive Utility Function
17 Conflicting Objectives II: Multiattribute Utility Models with Interactions
18 Conclusions and Further Reading