The Basics

Definitions of decision, alternatives, values, preferences, outcomes, uncertainty, criteria

Difference between decision analysis and decision making (the two camps)

Characteristics of decisions: a collectively exhaustive and mutually exclusive

• number of decision makers: single or multiple

• with or without uncertainty
• number of objectives: single or multiple
• single decision or linked
• frequency of occurrence (of the decision)
• meta decision?
• complexity of involvement and analysis
• consequence and impact (large or small)

• Emotional involvement: how to quantify and qualify
• Value of information: how much would and should you pay to reduce the uncertainty, to become more informed?

Types of decisions & examples