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Summary of the Book
Decision Making Under Uncertainity uses real-world cases and the authors' combined half-century of teaching and consulting experience, to outline a relatively straightforward yet systematic approach for making estimates about the likelihood and consequences of future events and then using those assessments to arrive at an appropriate decision.
The cases are supplemented with expository text and spreadsheets which together guide the reader toward, a mastery of techniques such as decision trees and simulation,concepts such as probability , the value of information, and strategic gaming and applications such as inventory stocking problems, bidding situations and negotiating. The Idea in this book will be invaluable to managers and other decision makers not only when they are used in formal analyses but because they will also change for the better -the intuitive way in which you approach problems.
