Applied Decision Analysis

Decision analysis (DA) is a methodology by which the various aspects of a decision are represented in an explicit and quantitative model to support or improve the procedure and/or outcome of decisions under uncertainty. The term decision analysis is used both for the domain and for the actual single exercise of construction and quantifying a model for a particular problem. DA can be used purely for the sake of knowledge itself (such as to increase one's own understanding or that of others in a teaching setting) and also with the purpose to apply that knowledge to real-life medical dilemma, where a choice has to be made. This is called applied decision analysis, although the more correct term might be applicable decision analysis, as, however one ...

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