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28 - Perspective on Decision Analysis Applications

Published online by Cambridge University Press:  05 June 2012

By
Donald L. Keefer ,
Craig W. Kirkwood  and
James L. Corner
Edited by
Ward Edwards ,
Ralph F. Miles Jr.  and
Detlof von Winterfeldt
Donald L. Keefer
Affiliation:
W. P. Carey School of Business, Arizona State University
Craig W. Kirkwood
Affiliation:
W. P. Carey School of Business, Arizona State University
James L. Corner
Affiliation:
Waikato Management School, University of Waikato
Ralph F. Miles Jr.
Affiliation:
California Institute of Technology
Detlof von Winterfeldt
Affiliation:
University of Southern California
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Summary

ABSTRACT. This chapter identifies, and provides perspective on, trends and developments in decision-analysis applications, based primarily on an exhaustive survey of decision-analysis applications published in the period 1990–2001 in major English-language operations research and closely related journals. It serves as a guide to those interested in recent applications in specific areas or in applications that illustrate the use of particular methods. We compare the characteristics of the applications articles surveyed here with those of applications articles appearing in a similar set of journals between 1970 and 1989 and conclude that the overall rate of publication of decision-analysis applications has increased. In addition, we find that both the mix of application areas and the specific aspects of decision analysis that are emphasized in applications publications have shifted somewhat. We also identify and discuss noteworthy trends in, and developments affecting, published applications, including those in computer software and software-related tools, decision conferencing, stochastic trees, value-focused thinking, normative systems, organizational processes, and real options. We highlight several award-winning decision-analysis applications and discuss formation of a new practitioner-oriented professional group. Finally, we present some concerns and thoughts on future needs for advancing decision-analysis practice.

Introduction

This chapter provides our perspective on the state of decision-analysis applications, based primarily on a survey of applications articles published from 1990 to 2001 in major English-language operations research journals and other closely related journals.

Type
Chapter
Information
Advances in Decision Analysis
From Foundations to Applications
 , pp. 582 - 610
Publisher: Cambridge University Press
Print publication year: 2007

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