Method for decision and risk analysis in probabilistic and multiple criteria situations
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United States of America Patent
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Aug 14, 2007
Grant Date -
Jan 5, 2006
app pub date -
Jun 6, 2005
filing date -
Jun 30, 2004
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Abstract
A computer-implemented decision device and a family of methods and procedures are used for representing and analyzing imprecise, vague, and incomplete probabilistic decision and risk problems and/or when a criteria hierarchy is present. Decision makers can state the problems simply with the precision the decision-makers feel they have evidence for. Probabilities, values (utilities), criteria weights with belief distributions over them, and optimization procedures for fast evaluation of decision rules with respect to such statements are determined and analyzed.
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