Describes basic concepts of rational decision making and decision analysis to the reader
Offers insights that help to systematically analyze decision making problems in professional and private life and helps the reader to come up with a problem solution based on a higher degree of rationaliy
Updating/inclusion of current research, in-depth discussion of selected topics, additional exercises/case studies
This textbook conveys methods that can improve decision making processes in various fields such as economics, politics, and medicine as well as in personal life. Areas of focus are decision making under conflicting objectives, decision making under risk and uncertainty, decision making with incomplete information about individual preferences or probabilities, and the consideration of time preferences. Special emphasis is placed on the procedures` and concepts`applicability. Explicit sample applications show the methods` benefit for a wide area of decision making problems. Exercises from daily life make it easy for the reader to understand the key insights from decision analysis.
Content Level »Graduate
Keywords »Alternative - Attribut - Decision Analysis - Decision Theory - Multiple Objectives - Rational Decision Making - Risk and Uncertainty