scholarly journals On Ambiguity Reduction and the Role of Decision Analysis during the Pandemic

Risk Analysis ◽  
2021 ◽  
Author(s):  
David C. Rode ◽  
Paul S. Fischbeck
Keyword(s):  
Decision Analysis ◽  
Ambiguity Reduction

Prior Beliefs and Ambiguity Attitudes in Decision from Experience

2021 ◽  
Author(s):  
Ilke Aydogan
Keyword(s):  
Decision Analysis ◽  
Crucial Role ◽  
Decision Model ◽  
Data Sets ◽  
Subjective Probabilities ◽  
Prior Beliefs ◽  
Decisions From Experience ◽  
Ambiguity Attitudes ◽  
Existing Data

Prior beliefs and their updating play a crucial role in decisions under uncertainty, and theories about them have been well established in classical Bayesianism. Yet, they are almost absent for ambiguous decisions from experience. This paper proposes a new decision model that incorporates the role of prior beliefs, beyond the role of ambiguity attitudes, into the analysis of such decisions. Hence, it connects ambiguity theories, popular in economics, with decision from experience, popular (mostly) in psychology, to the benefit of both. A reanalysis of some existing data sets from the literature on decisions from experience shows that the model that incorporates prior beliefs into the estimation of subjective probabilities outperforms the commonly used model that approximates subjective probabilities with observed relative frequencies. Controlling for subjective priors, we obtain more accurate measurements of ambiguity attitudes, and thus a new explanation of the gap between decision from description and decision from experience. This paper was accepted by Manel Baucells, decision analysis.

The Role of Decision Analysis in Software Engineering

1996 ◽  
pp. 368-388
Author(s):  
Jason Merrick ◽  
Nozer D. Singpurwalla
Keyword(s):  
Software Engineering ◽  
Decision Analysis

Applications of AI in Financial System

2017 ◽  
pp. 101-109
Author(s):  
Santosh Kumar ◽  
Roopali Sharma
Keyword(s):  
Neural Network ◽  
Artificial Intelligence ◽  
Decision Analysis ◽  
Computer Science ◽  
Investment Decision ◽  
Analysis Tool ◽  
Changing Environment ◽  
Human Interference ◽  
Applications Of Ai

Role of computers are widely accepted and well known in the domain of Finance. Artificial Intelligence(AI) methods are extensively used in field of computer science for providing solution of unpredictable event in a frequent changing environment with utilization of neural network. Professionals are using AI framework into every field for reducing human interference to get better result from few decades. The main objective of the chapter is to point out the techniques of AI utilized in field of finance in broader perspective. The purpose of this chapter is to analyze the background of AI in finance and its role in Finance Market mainly as investment decision analysis tool.

The Role of Decision Analysis in Transfusion Medicine

Vox Sanguinis ◽  
1996 ◽  
Vol 71 (1) ◽  
pp. 1-5
Author(s):  
James P. AuBuchon
Keyword(s):  
Decision Analysis ◽  
Transfusion Medicine

Evaluation of the Potential Role of Serodiagnosis of Tuberculosis in a Clinic in Bolivia by Decision Analysis

1991 ◽  
Vol 143 (4_pt_1) ◽  
pp. 713-716 ◽  
Author(s):  
Brian A. Steele ◽  
Thomas M. Daniel
Keyword(s):  
Decision Analysis ◽  
Potential Role

scholarly journals The Effectiveness of Incentive Schemes in the Presence of Implicit Effort Costs

2019 ◽  
Vol 65 (9) ◽  
pp. 4063-4078 ◽  
Author(s):  
Sebastian J. Goerg ◽  
Sebastian Kube ◽  
Jonas Radbruch
Keyword(s):  
Decision Analysis ◽  
Work Performance ◽  
Laboratory Experiments ◽  
Incentive Contracts ◽  
Incentive Scheme ◽  
Incentive Schemes ◽  
Outside Options ◽  
Real Effort ◽  
The Cost

Agents’ decisions to exert effort depend on the incentives and the potential costs involved. So far, most of the attention has been on the incentive side. However, our laboratory experiments underline that both the incentive and the cost side can be used separately to shape work performance. In our experiment, subjects work on a real-effort slider task. Between treatments, we vary the incentive scheme used for compensating workers. Additionally, by varying the available outside options, we explore the role of implicit costs of effort in determining workers’ performance. We observe that incentive contracts and implicit costs interact in a nontrivial manner. In general, performance decreases as implicit costs increase. Yet the magnitude of the reaction differs across incentive schemes and across the offered outside options, which, in turn, alters estimated output elasticities. In addition, comparisons between incentive schemes crucially depend on the implicit costs. This paper was accepted by Yan Chen, decision analysis.

Treatment of Symptomatic Cholelithiasis in France: A Decision Analysis Comparing Cholecystectomy and Biliary Lithotripsy

1992 ◽  
Vol 8 (1) ◽  
pp. 166-184 ◽  
Author(s):  
A. Mark Fendrick ◽  
Gérard De Pouvourville ◽  
Caterine Bitker ◽  
Gilles Pelletier
Keyword(s):  
Decision Analysis ◽  
Shock Wave Lithotripsy ◽  
Potential Role ◽  
Treated Patient ◽  
Treatment Strategies ◽  
Economic Effects ◽  
Extracorporeal Shock Wave ◽  
Economic Perspectives ◽  
Biliary Lithotripsy

AbstractTo determine the potential role of extracorporeal shock wave lithotripsy (ESWL) in the treatment of symptomatic gallstone patients in France, a simulation model evaluated the health and economic effects of three different treatment strategies. Decision analysis of conventional cholecystectomy alone and either of two strategies using a combination of biliary lithotripsy and conventional cholecystectomy reveals that a strategy employing biliary ESWL results in a significant number of successfully treated patients, thus avoiding the risks and costs of abdominal surgery. Moreover, cost analysis shows that expanding the use of lithotripsy to all patients for whom the procedure is indicated increases the average cost per successfully treated patient, but, more importantly, decreases the overall costs incurred by the cohort. From a societal viewpoint, a policy using biliary ESWL in appropriate patients is superior to one of cholecystectomy alone, from both clinical and economic perspectives.

The Role of Some Functional Equations in Decision Analysis

2010 ◽  
Vol 7 (2) ◽  
pp. 215-228 ◽  
Author(s):  
Ali E. Abbas ◽  
János Aczél
Keyword(s):  
Decision Analysis ◽  
Functional Equations
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