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Introduction: The Practice of Decision and Risk Analysis

Author

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  • Samuel E. Bodily

    (Darden Graduate School of Business Administration, University of Virginia, Box 6550, Charlottesville, Virginia 22906)

Abstract

Decision analysis has come of age as a methodology and practice for decision making under uncertainty. It has advised policy at the highest levels of business and government and aided individuals in private decisions. Risk analysis, a companion methodology, has been used on countless project and policy evaluations. This special issue comprises descriptions of important applications of decision and risk analysis around the world, a tutorial on state-of-the-art methods, updates of consulting and management practice and methodology, discussion of methods appropriate to government decisions, and provocative opposing essays on the contributions and limitations of decision analysis in practice.

Suggested Citation

  • Samuel E. Bodily, 1992. "Introduction: The Practice of Decision and Risk Analysis," Interfaces, INFORMS, vol. 22(6), pages 1-4, December.
    • Handle: RePEc:inm:orinte:v:22:y:1992:i:6:p:1-4
    DOI: 10.1287/inte.22.6.1
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    Citations

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    Cited by:

    1. Robin L. Dillon & M. Elisabeth Paté‐Cornell, 2005. "Including technical and security risks in the management of information systems: A programmatic risk management model," Systems Engineering, John Wiley & Sons, vol. 8(1), pages 15-28.
    2. Kleijnen, Jack P. C., 1995. "Verification and validation of simulation models," European Journal of Operational Research, Elsevier, vol. 82(1), pages 145-162, April.
    3. M. Elisabeth Paté-Cornell & Robin L. Dillon, 2006. "The Respective Roles of Risk and Decision Analyses in Decision Support," Decision Analysis, INFORMS, vol. 3(4), pages 220-232, December.

    More about this item

    Keywords

    decision analysis;

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