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Simple decision problems: A graphical solution

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  • Flavell, R

Abstract

The decision problem in which a choice has to be made between two projects, either or both of which may have uncertain outcomes, is shown to reduce to an interpretation of a single graph. Two example problems are considered and their graphs constructed. The technique is finally extended to allow the comparison of any number of projects.

Suggested Citation

  • Flavell, R, 1974. "Simple decision problems: A graphical solution," Omega, Elsevier, vol. 2(3), pages 411-414, June.
    • Handle: RePEc:eee:jomega:v:2:y:1974:i:3:p:411-414
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