GE 550

spring 2012

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; entropy of a random variable; experimentation and optimal stopping; invariance formulations in utility and probability; one-switch preferences; graph-based methods to incorporate dependence in multiattribute utility functions.

Prerequisite: GE 450.

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