Topic
Decision analysis
About: Decision analysis is a research topic. Over the lifetime, 14916 publications have been published within this topic receiving 497922 citations. The topic is also known as: Decision aids.
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Book•
23 May 1994
TL;DR: In this paper, the authors provide an introduction to decision making, a central human activity, fundamental to individual, group, organizational, and societal life, and draw on research from all the disciplines of social and behavioural science to show decision making in its broadest context.
Abstract: Building on lecture notes from his course at Stanford University, James G. March provides an introduction to decision making, a central human activity, fundamental to individual, group, organizational, and societal life. March draws on research from all the disciplines of social and behavioural science to show decision making in its broadest context. By emphasizing how decisions are actually made - as opposed to how they should be made - he enables those involved in the process to understand it both as observers and as participants. In addition, March explains key concepts of vital importance to decision makers, such as limited rationality, history-dependent rules, and ambiguity, and weaves these ideas into a full depiction of decision making.
2,171 citations
TL;DR: Two process tracing techniques, explicit information search and verbal protocols, were used to examine the information processing strategies subjects use in reaching a decision, demonstrating that the informationprocessing leading to choice will vary as a function of task complexity.
2,005 citations
Book•
22 Jun 2011TL;DR: A compilation of modern decision-making techniques, Multiple Attribute Decision Making: Methods and Applications focuses on the fuzzy set approach to multiple attribute decision making (MADM).
Abstract: Decision makers are often faced with several conflicting alternatives [1]. How do they evaluate trade-offs when there are more than three criteria? To help people make optimal decisions, scholars in the discipline of multiple criteria decision making (MCDM) continue to develop new methods for structuring preferences and determining the correct relative weights for criteria. A compilation of modern decision-making techniques, Multiple Attribute Decision Making: Methods and Applications focuses on the fuzzy set approach to multiple attribute decision making (MADM). Drawing on their experience, the authors bring together current methods and real-life applications of MADM techniques for decision analysis. They also propose a novel hybrid MADM model that combines DEMATEL and analytic network process (ANP) with VIKOR procedures.
1,943 citations
1,929 citations
01 Jan 1981
TL;DR: There are some classical decision rules such as dominance, maximin and maximum which are still fit for the MADM environment but they do not require the DM’s preference information, and accordingly yield the objective (vs. subjective) solution.
Abstract: There are some classical decision rules such as dominance, maximin and maximum which are still fit for the MADM environment. They do not require the DM’s preference information, and accordingly yield the objective (vs. subjective) solution. However, the right selection of these methods for the right situation is important. (See Table 1.3 for references).
1,890 citations