INEG 54403 — Decision Models
Focus on quantitative decision models for technical and managerial problems for private and public organizations. Topics include shareholder value, stakeholder value, Value-Focused Thinking, axioms of decision analysis, decision making challenges, decision traps, cognitive biases, decision processes, decision framing, influence diagrams, value hierarchy structuring, designing creative alternatives, singe objective models, multiobjective additive value model, swing weights, sensitivity analysis, portfolio decision models with binary linear programming, probability elicitation, Bayes Law, decision trees, Monte Carlo simulation, expected value, dominance (deterministic and stochastic), tornado diagrams, value of information, risk preference, utility models, expected utility, and communicating analysis insights. (Typically offered: Irregular) This course is cross-listed with EMGT 54403 , OMGT 54403 .