By Topic

A graphical method for solving a decision analysis problem

Sign In

Cookies must be enabled to login.After enabling cookies , please use refresh or reload or ctrl+f5 on the browser for the login options.

Formats Non-Member Member
$33 $13
Learn how you can qualify for the best price for this item!
Become an IEEE Member or Subscribe to
IEEE Xplore for exclusive pricing!
close button

puzzle piece

IEEE membership options for an individual and IEEE Xplore subscriptions for an organization offer the most affordable access to essential journal articles, conference papers, standards, eBooks, and eLearning courses.

Learn more about:

IEEE membership

IEEE Xplore subscriptions

1 Author(s)
C. Goutis ; Dept. of Stat. Sci., Univ. Coll. London, UK

A method for solving multistage decision analysis problems under uncertainty is proposed. The method is appropriate when the utility function can be decomposed to smaller factors and the joint probability function of the random variables also factorises to probabilities defined in smaller subsets of random variables. We use the factorisations and the corresponding graphical structure of the problem to compute efficiently the expected utility at each stage, All computations are local in the sense that they involve a small number of variables. Then, using dynamic programming, we can identify an optimum strategy, depending on the available knowledge at the time that decisions are taken. The algorithm is illustrated by a worked example, and a comparison with existing approaches is included

Published in:

IEEE Transactions on Systems, Man, and Cybernetics  (Volume:25 ,  Issue: 8 )