Applied Decision Analysis

This volume examines applications of decision analysis in both the public and private sectors. The first part contains applications in natural resources and environmental decision making. Within this context, the contributors use such methodologies as Markov decision processes, multiattribute decision analysis, optimal control theory and a new methodology called management by exception principle that incorporates multiattribute utility theory and dynamic models. The second part is devoted to medical decision making with applications of expected utility optimization, decision support systems, and influence diagrams. Economics and finance constitute an important area of application and part three reviews applications including the use of fuzzy linear programming, intertemporal dynamic asset pricing models, and multicriteria decision making. Part four contains educational applications. The book also presents miscellaneous applications of decision analysis including the use of multiattribute utility theory to evaluate nuclear disposal options and the use of dynamic graphical models to approach the classical problems of maintenance and replacement. The wide and varied range of applications in this volume should help those interested in real world applications of decision analysis and decision making to deal with complex problems.