Subjective Aspects of the Art of Decision Analysis: Exploring the Role of Decision Analysis in Decision Structuring, Decision Support and Policy Dialogue
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.
analysis, decision, information systems, insurance, modelling, planning, risk
Business | Strategic Management Policy
Strategy and Organisation
Journal of the Operational Research
THOMAS, Howard and SAMSON, Danny.
Subjective Aspects of the Art of Decision Analysis: Exploring the Role of Decision Analysis in Decision Structuring, Decision Support and Policy Dialogue. (1986). Journal of the Operational Research. 37, (3), 249-265. Research Collection Lee Kong Chian School Of Business.
Available at: http://ink.library.smu.edu.sg/lkcsb_research/3933