GE 550

spring 2009

All Classes

Decision Analysis II

Credit: 3 OR 4 hours.

Continuation of GE 450. Fundamental requirements of a decision-making system; comparison of different decision-making methods, "paradoxes" in decision making; foundations and history of probability as a degree of belief; Bayesian vs. classical statistics; the entropy of a random variable; experimentation and optimal stopping; invariance formulations in utility and probability; one-switch preferences, and graph-based methods to incorporate dependence in multiattribute utility functions. Intended for those interested in pursuing research in decision analysis or wanting to deepen understanding of the foundations of the subject. Prerequisite: GE 450.

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