DECISION AND CONTROL
Publisher Summary
The traditional approach to analyze a decision problem has been to organize the elements of the problem in terms of a decision tree that depicts, in chronological order, the moves the decision maker may choose, and the moves governed by chance. Often, the decision maker must pay a fee for acquiring information or enabling certain conditions along the way. Whenever a fee has to be paid, it is marked on the relevant branch and so are the consequences or payoffs that eventually emanate from that branch. Control is the process of scheduling the activation of information sources, both external and internal. Decision analysis provides a framework for scheduling all computational activities so as ...
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