A Decision Analytic Approach to Exposure-Based Chemical Prioritization

A Decision Analytic Approach to Exposure-Based Chemical Prioritization

The manufacture of novel synthetic chemicals has increased in volume and variety, but often the environmental and health risks are not fully understood in terms of toxicity and, in particular, exposure. While efforts to assess risks have generally been effective when sufficient data are available, the hazard and exposure data necessary to assess risks adequately are unavailable for the vast maj...

A Decision-Analytic Approach to Reliability-Based Design Optimization

Reliability-based design optimization is concerned with designing a product to optimize an objective function given uncertainties about whether various design constraints will be satisfied. However, the widespread practice of formulating such problems as chance-constrained programs can lead to misleading solutions. While a decision analytic approach would avoid this undesirable result, many eng...

Arbitrating a Dispute: A Decision Analytic Approach

A Convex Analytic Approach to Risk-Aware Markov Decision Processes

Abstract. In classical Markov decision process (MDP) theory, we search for a policy that say, minimizes the expected infinite horizon discounted cost. Expectation is of course, a risk neutral measure, which does not su ce in many applications, particularly in finance. We replace the expectation with a general risk functional, and call such models risk-aware MDP models. We consider minimization ...

ProcessPageRank - A Network-based Approach to Process Prioritization Decisions

Deciding which business processes to improve first is a challenge most corporate decision-makers face. The literature offers many approaches, techniques, and tools that support such process prioritization decisions. Despite the broad knowledge about measuring the performance of individual processes and determining related need for improvement, the interconnectedness of processes has not been co...