Sequential Valuation Networks: A New Graphical Technique for Asymmetric Decision Problems

This paper is a short (14-pp) version of a longer working paper titled "Sequential Valuation Networks for Asymmetric Decision Problems," University of Kansas School of Business Working Paper No. 286, January 2001, Revised June 2004, available from KU Scholarworks.This paper deals with representation and solution of asymmetric decision problems. We describe a new graphical representation called sequential valuation networks, which is a hybrid of Covaliu and Oliver’s sequential decision diagrams and Shenoy’s asymmetric valuation networks. Sequential valuation networks inherit many of the strengths of sequential decision diagrams and asymmetric valuation networks while overcoming many of their shortcomings. We illustrate our technique by representing and solving a modified version of Covaliu and Oliver’s Reactor problem

A Comparison of Graphical Techniques for Asymmetric Decision Problems

We compare four graphical techniques for representation and solution of asymmetric decision problems---decision trees, influence diagrams, valuation networks, and sequential decision diagrams. We solve a modified version of Covaliu and Oliver's Reactor problem using each of the four techniques. For each technique, we highlight the strengths, weaknesses, and some open issues that perhaps can be resolved with further research.asymmetric decision problems, decision trees, influence diagrams, valuation networks, sequential decision diagrams

Sequential Valuation Networks: A New Graphical Technique for Asymmetric Decision Problems

Abstract. This paper deals with representation and solution of asymmetric decision problems. We describe a new graphical representation called sequential valuation networks, which is a hybrid of Covaliu and Oliver’s sequential decision diagrams and Shenoy’s asymmetric valuation networks. Sequential valuation networks inherit many of the strengths of sequential decision diagrams and asymmetric valuation networks while overcoming many of their shortcomings. We illustrate our technique by representing and solving a modified version of Covaliu and Oliver’s Reactor problem.