The Development And Application Of Decision Theory Analysis

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Authors
Blodnick, Kathleen
Advisor
Alfred Murray
Ernest Bacon
Marie Vanisko
Editor
Date of Issue
1971-04-01
Subject Keywords
Publisher
Citation
Series/Report No.
item.page.identifier
Title
The Development And Application Of Decision Theory Analysis
Other Titles
Type
thesis
Description
Abstract
Nearly everything a person does, every action taken, is the result of making a decision. With the exception of a few physiological actions, such as breathing, every action involves a decision, even though some are very minor decisions because the consequences are not too important. For these minor decisions, intuition instead of conscious thought is used. Because of the importance of decision-making, both in everyday situations and in complex business matters, the theory of decision-making has been developed extensively in recent years. It has often been said that the key to understanding any decision-making process is to discover the ways in which the decision-maker simplifies the complex ideas into workable conceptions of the decision problem. And this is just what Decision Theory does. <br />
Sponsors
Degree Awarded
Bachelor's
Semester
Spring
Department
Mathematics, Engineering & Computer Science