Engineering - General & Miscellaneous, Business Technology, Mathematics, Mathematics, Engineering - General & Miscellaneous

Evaluation and Decision Models: A Critical Perspective

Name: Evaluation and Decision Models: A Critical Perspective
Author: Denis Bouyssou
ISBN: 9781461356318

by Denis Bouyssou, Thierry Marchant, Marc Pirlot, Patrice Perny, Alexis Tsoukias

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Overview

The purpose of Evaluation and Decision Models: A Critical Perspective is to provide a critical thinking framework for all individuals utilizing decision and evaluation models, whether it be for research or applications. It is axiomatic that all evaluation and decision models suffer some limitations. There are situations where a decision model will not perform to expectations. This book argues that there is no best decision or evaluation model, but that decision-makers must understand the principles of formal evaluation and decision models and apply them critically. Hence, the book seeks to deepen our understanding of evaluation and decision models and encourage users of these models to think more analytically about them.
The authors work in six different European universities. Their backgrounds are varied: mathematics, economics, engineering, law, and geology, and they teach in engineering, business, mathematics, computer science, and psychology in their universities. As a group, the authors have particular expertise in a variety of decision models that include preference modelling, fuzzy logic, aggregation techniques, social choice theory, artificial intelligence, problem structuring, measurement theory, operations research, and multiple criteria decision support. In addition to their decision analysis research, all the authors have been involved in a variety of high-impact applications which include software evaluation, location of a nuclear repository, the rehabilitation of a sewer network, and the location of high-voltage lines. It is this variety within the authorship that unifies this book into a systematic examination of how bestformal decision models can be used. The monograph is an excellent tool for researchers of decision analysis and decision-makers.

Synopsis

1. 1 Motivations Deciding is a very complex and difficult task. Some people even argue that our ability to make decisions in complex situations is the main feature that distinguishes us from animals (it is also common to say that laughing is the main difference). Nevertheless, when the task is too complex or the interests at stake are too important, it quite often happens that we do not know or we are not sure what to decide and, in many instances, we resort to a decision support technique: an informal one-we toss a coin, we ask an oracle, we visit an astrologer, we consult an expert, we think-or a formal one. Although informal decision support techniques can be of interest, in this book, we will focus on formal ones. Among the latter, we find some well-known decision support techniques: cost-benefit analysis, multiple criteria decision analysis, decision trees, . . . But there are many other ones, sometimes not presented as decision support techniques, that help making decisions. Let us cite but a few examples. • When the director of a school must decide whether a given student will pass or fail, he usually asks each teacher to assess the merits of the student by means of a grade. The director then sums the grades and compares the result to a threshold. • When a bank must decide whether a given client will obtain a credit or not, a technique, called credit scoring, is often used.

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Booknews

The six authors<-->teachers of engineering, business, mathematics, computer science, and psychology in six European universities<-->argue that there's no best decision or evaluation model, but that decision- makers must understand the principles of the formal models and apply them critically. They offer this framework for employing decision and evaluation models for research or for applications to encourage their users to think more analytically about them. The authors note that they tried to keep mathematics to a minimum, but they also provide an extensive (17-page) bibliography to enable anyone interested to find more technical literature as needed. Annotation c. Book News, Inc., Portland, OR (booknews.com)