2 research outputs found
A Measure of Decision Flexibility
We propose a decision-analytical approach to comparing the flexibility of
decision situations from the perspective of a decision-maker who exhibits
constant risk-aversion over a monetary value model. Our approach is simple yet
seems to be consistent with a variety of flexibility concepts, including robust
and adaptive alternatives. We try to compensate within the model for
uncertainty that was not anticipated or not modeled. This approach not only
allows one to compare the flexibility of plans, but also guides the search for
new, more flexible alternatives.Comment: Appears in Proceedings of the Twelfth Conference on Uncertainty in
Artificial Intelligence (UAI1996
Three new sensitivity analysis methods for influence diagrams
Performing sensitivity analysis for influence diagrams using the decision
circuit framework is particularly convenient, since the partial derivatives
with respect to every parameter are readily available [Bhattacharjya and
Shachter, 2007; 2008]. In this paper we present three non-linear sensitivity
analysis methods that utilize this partial derivative information and therefore
do not require re-evaluating the decision situation multiple times.
Specifically, we show how to efficiently compare strategies in decision
situations, perform sensitivity to risk aversion and compute the value of
perfect hedging [Seyller, 2008].Comment: Appears in Proceedings of the Twenty-Sixth Conference on Uncertainty
in Artificial Intelligence (UAI2010