A Model for the Analysis of Multiple Strategies
N. John Castellan
Abstract
N. John Castellan
Abstract
In many decision problems the decision-maker must ask a series of questions or select cues relevant to but prior to the decision. There are many strategies which would prescribe an order for asking such questions or selecting such cues. It is the purpose of the paper to describe a manner in which the strategy or strategies of the decision-maker can be analyzed. From this model can be derived limits corresponding to the possible use of a particular strategy, and the effective or observed use of the strategy or strategies by the decision-maker.
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In many decision problems the decision-maker must ask a series of questions or select cues relevant to but prior to the decision. There are many strategies which would prescribe an order for asking such questions or selecting such cues. It is the purpose of the paper to describe a manner in which the strategy or strategies of the decision-maker can be analyzed. From this model can be derived limits corresponding to the possible use of a particular strategy, and the effective or observed use of the strategy or strategies by the decision-maker.
Key concepts: Decision maker, Decision analysis, Ask price, Computer science, Order (exchange), Decision theory, Evidential reasoning approach, Optimal decision