Accession Number : ADA019339
Title : Issues in the Value of Decision Analysis.
Descriptive Note : Technical rept. 10 Jan 75-9 Jan 76,
Corporate Author : DECISIONS AND DESIGNS INC MCLEAN VA
Personal Author(s) : Watson,Stephen R. ; Brown,R. V.
Report Date : NOV 1975
Pagination or Media Count : 56
Abstract : This paper explores methodological issues, especially logical and mathematical, in putting a dollar value to a proposed decision analysis exercise. It restricts attention to the direct value of the analysis in terms of impact on the decision analyzed. It disregards indirect values (or costs) the analysis may have, however important these may be in enhancing organizational processes. Two alternative valuation instruments are identified, expressed in explicit mathematical form.
Descriptors : *DECISION THEORY, *ECONOMIC ANALYSIS, VALUE, DECISION MAKING, MATHEMATICAL LOGIC, ASSESSMENT, PROBLEM SOLVING, UNCERTAINTY, MATHEMATICAL MODELS
Subject Categories : Psychology
Distribution Statement : APPROVED FOR PUBLIC RELEASE