On knowledge and utility management

Sebastian Thöns

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

Abstract

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
Chapter3
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

Conference

Conference10th International Forum on Engineering Decision Making
Number10
CountryCanada
CityLake Louis
Period06/05/201809/05/2018

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