Info-Cision - A Network Technique for Analyzing Decision Systems.
LEHIGH UNIV BETHLEHEM PA DEPT OF INDUSTRIAL ENGINEERING
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The paper discusses the concept and illustrations of Info-Cision a new network modeling technique which analyzes a series of decisions set in a temporal environment. The user of the system can model various decision criteria in his model, e.g. maximum expected return, most probable future, aspiration level, and maximum expected utility. The time value of money can also be considered. The system yields the realization time of all nodes in the system along with risk profiles of the present worth at each decision node. A FORTRAN 4 computer program has been developed to analyze Info-Cision Networks. The mode of solution is simulation. Author
- Administration and Management
- Operations Research