EVALUATION AND DECISION MODELS by Denis Bouyssou, Thierry Marchant, Marc Pirlot ( 9780792372509 )

Item Details

Title:

EVALUATION AND DECISION MODELS
A CRITICAL PERSPECTIVE

By:

Denis Bouyssou, Thierry Marchant, Marc Pirlot

Format:

Hardback

List price:	£162.00
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ISBN 10:

0792372506

ISBN 13:

9780792372509

Publisher:

SPRINGER

Pub. date:

30 November, 2000

Edition:

2000 ed.

Series:

International Series in Operations Research & Management Science 32

Pages:

274

Description:

This text provides a critical thinking framework for all individuals utilizing decision and evaluation models. It argues that there is no best decision or evaluation model but that decision-makers must understand the principles of formal evaluation and decision models and apply them critically.

Synopsis:

1. 1 Motivations Deciding is a very complex and difficult task. Some people even argue that our ability to make decisions in complex situations is the main feature that distinguishes us from animals (it is also common to say that laughing is the main difference). Nevertheless, when the task is too complex or the interests at stake are too important, it quite often happens that we do not know or we are not sure what to decide and, in many instances, we resort to a decision support technique: an informal one-we toss a coin, we ask an oracle, we visit an astrologer, we consult an expert, we think-or a formal one. Although informal decision support techniques can be of interest, in this book, we will focus on formal ones. Among the latter, we find some well-known decision support techniques: cost-benefit analysis, multiple criteria decision analysis, decision trees, . . . But there are many other ones, sometimes not presented as decision support techniques, that help making decisions. Let us cite but a few examples. * When the director of a school must decide whether a given student will pass or fail, he usually asks each teacher to assess the merits of the student by means of a grade. The director then sums the grades and compares the result to a threshold. * When a bank must decide whether a given client will obtain a credit or not, a technique, called credit scoring, is often used.

Illustrations:

VIII, 274 p.

Publication:

Netherlands

Imprint:

Springer

Returns:

Returnable

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