The State of the Art of Decision Analysis: A Personal Perspective

Rex V. Brown

24 citations0/0 files storedINFORMS Journal on Applied Analytics

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Decision-Making and Behavioral Economics Multi-Criteria Decision Making Complex Systems and Decision Making

Abstract

“Personalized” decision analysis (like most quantitative analysis of decisions) has a long way to go before it realizes its potential for being widely used and found useful. Common practice of ten stumbles on “people” rather than on logic problems. Procedures need to be more closely adapted to the intended user and his or her institutional context, based on empirical and behavioral research.

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References

1975Judgment under Uncertainty: Heuristics and Biases 1994Decisions with Multiple Objectives: Preferences and Value Tradeoffs.1986Decision analysis and behavioral research 1971Utility Theory for Decision Making 1988BOUNDED RATIONALITY, AMBIGUITY, AND THE ENGINEERING OF CHOICE 1989Readings on the Principles and Applications of Decision Analysis 1988Decision making: Descriptive, normative, and prescriptive interactions.1969Analysis of decisions under uncertainty

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