On knowledge and utility management

Sebastian Thöns

    Research output: Chapter in Book/Report/Conference proceedingArticle in proceedingsResearchpeer-review


    This paper contains an extended formulation of decision analyses in the perspectives of classifying real world decision challenges and determining the optimality, significance and effectiveness of decisions. The paper starts out with a summary of the basic and early formulation of decision analysis including the explicit description of limitations. Building upon the basic formulation of decision analysis, this paper introduces a formulation of decision and decision value analyses together with a system state analysis in which the utility distributions and expected utilities are explicitly formulated. This facilitates - beyond the very well know identification of optimal decisions – the quantification of the decision significance and the decision effectiveness. The paper concludes with the description of cases and the summary of the findings.
    Original languageEnglish
    Title of host publicationProceedings of the 10th International Forum on Engineering Decision Making
    Number of pages9
    Publication date2018
    ISBN (Electronic)978-0-88953-420-9
    Publication statusPublished - 2018
    Event10th International Forum on Engineering Decision Making - Lake Louis, Canada
    Duration: 6 May 20189 May 2018
    Conference number: 10


    Conference10th International Forum on Engineering Decision Making
    CityLake Louis


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