Bayesian Decision Analysis

Bayesian decision analysis supports principled decision making in complex domains. This textbook takes the reader from a formal analysis of simple decision problems to a careful analysis of the sometimes very complex and data rich structures confronted by practitioners. The book contains basic material on subjective probability theory and multi-attribute utility theory, event and decision trees, Bayesian networks, influence diagrams and causal Bayesian networks. The author demonstrates when and how the theory can be successfully applied to a given decision problem, how data can be sampled and expert judgements elicited to support this analysis, and when and how an effective Bayesian decision analysis can be implemented. Evolving from a third-year undergraduate course taught by the author over many years, all of the material in this book will be accessible to a student who has completed introductory courses in probability and mathematical statistics.

Author: Jim Q. Smith
Publisher: Cambridge University Press
Published: 09/23/2010
Pages: 348
Binding Type: Hardcover
Weight: 1.80lbs
Size: 9.70h x 6.90w x 0.90d
ISBN: 9780521764544

Review Citation(s):
Choice 07/01/2011

About the Author
Smith, Jim Q.: - Jim Q. Smith is a Professor of Statistics at the University of Warwick.