decisionSupport (Q109216): Difference between revisions

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+Supporting the quantitative analysis of binary welfare based    decision making processes using Monte Carlo simulations. Decision support    is given on two levels: (i) The actual decision level is to choose between    two alternatives under probabilistic uncertainty. This package calculates    the optimal decision based on maximizing expected welfare. (ii) The meta    decision level is to allocate resources to reduce the uncertainty in the    underlying decision problem, i.e to increase the current information to    improve the actual decision making process. This problem is dealt with    using the Value of Information Analysis. The Expected Value of    Information for arbitrary prospective estimates can be calculated as    well as Individual Expected Value of Perfect Information.    The probabilistic calculations are done via Monte Carlo    simulations. This Monte Carlo functionality can be used on its own.
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+Software:109216

Latest revision as of 18:56, 12 March 2024

Quantitative Support of Decision Making under Uncertainty

Language	Label	Description	Also known as
English	decisionSupport	Quantitative Support of Decision Making under Uncertainty

Statements

instance of

R package

0 references

software version identifier

1.111

publication date

9 May 2022

0 references

1.101.1

publication date

20 May 2015

0 references

1.101.2

publication date

26 April 2016

0 references

1.102.1

publication date

6 October 2017

0 references

1.102.2

publication date

13 November 2017

0 references

1.103.2

publication date

27 November 2017

0 references

1.103.6

publication date

28 November 2017

0 references

1.103.7

publication date

16 May 2018

0 references

1.103.8

publication date

15 October 2018

0 references

1.105.2

publication date

16 October 2019

0 references

1.105.3

publication date

12 May 2020

0 references

1.106

publication date

1 March 2021

0 references

1.107

publication date

16 October 2021

0 references

1.108

publication date

17 October 2021

0 references

1.109

publication date

19 November 2021

0 references

1.110

publication date

18 February 2022

0 references

1.113

publication date

5 October 2023

0 references

0 references

0 references

5 October 2023

0 references

description

Supporting the quantitative analysis of binary welfare based decision making processes using Monte Carlo simulations. Decision support is given on two levels: (i) The actual decision level is to choose between two alternatives under probabilistic uncertainty. This package calculates the optimal decision based on maximizing expected welfare. (ii) The meta decision level is to allocate resources to reduce the uncertainty in the underlying decision problem, i.e to increase the current information to improve the actual decision making process. This problem is dealt with using the Value of Information Analysis. The Expected Value of Information for arbitrary prospective estimates can be calculated as well as Individual Expected Value of Perfect Information. The probabilistic calculations are done via Monte Carlo simulations. This Monte Carlo functionality can be used on its own.

0 references

0 references

0 references

0 references

0 references

0 references