Subjective Aspects of the Art of Decision Analysis: Exploring the Role of Decision Analysis in Decision Structuring, Decision Support and Policy Dialogue

Publication Type

Journal Article

Publication Date

1986

Abstract

The paper argues that, until very recently, decision analysts have devoted relatively little attention to the processes of problem formulation and subjective judgement in handling ill-structured strategic decision problems. Therefore, following a brief review of existing varieties of decision analysis, a modified policy dialogue' model of decision analysis is presented which integrates decision analysis with decision aids and decision support technology. This model is developed using as an illustration strategic problems drawn from the insurance industry. The paper concludes with some suggestions for the successful application and implementation of decision analysis.

Keywords

analysis, decision, information systems, insurance, modelling, planning, risk

Discipline

Business | Strategic Management Policy

Research Areas

Strategy and Organisation

Publication

Journal of the Operational Research

Volume

37

Issue

3

First Page

249

Last Page

265

ISSN

0160-5682

Identifier

10.1057/jors.1986.43

Publisher

Palgrave

Additional URL

https://doi.org/10.1057/jors.1986.43

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