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Encyclopedia of Operations Research and Management Science pp 367–372Cite as

Decision Analysis

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Introduction

The term decision analysis identifies a collection of technologies for assisting individuals and organizations in the performance of difficult inferences and decisions. Probabilistic inference is a natural element of any choice made in the face of uncertainty. No single discipline can lay claim to all advancements made in support of these technologies. Operations research, probability theory, statistics, economics, psychology, artificial intelligence, and other disciplines have contributed valuable ideas now being exploited in various ways by individuals in many governmental, industrial, and military organizations. As the term decision analysis suggests, complex inference and choice tasks are decomposed into smaller and presumably more manageable elements, some of which are probabilistic and others preferential or value-related. The basic strategy employed in decision analysis is divide and conquer. The presumption is that individuals or groups find it more difficult to...

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References

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Author information

Authors and Affiliations

  1. SEOR Department, George Mason University, 4400 University Drive, Fairfax, VA, 22030, USA

    David A. Schum

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  1. David A. Schum
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Correspondence to David A. Schum .

Editor information

Editors and Affiliations

  1. Robert H. Smith School of Business, University of Maryland, College Park, MD, USA

    Saul I. Gass

  2. Robert H. Smith School of Business and Institute for Systems Research, University of Maryland, College Park, MD, USA

    Michael C. Fu

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Schum, D.A. (2013). Decision Analysis. In: Gass, S.I., Fu, M.C. (eds) Encyclopedia of Operations Research and Management Science. Springer, Boston, MA. https://doi.org/10.1007/978-1-4419-1153-7_215

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  • DOI: https://doi.org/10.1007/978-1-4419-1153-7_215

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  • Publisher Name: Springer, Boston, MA

  • Print ISBN: 978-1-4419-1137-7

  • Online ISBN: 978-1-4419-1153-7

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