Modeling Knowledge: Model-Based Decision Support and Soft Computations∗

This chapter provides an overview of model-based support for modern decision making. It starts with discussing basic elements of decision making process, including characteristics of complex decision problems, concepts of rationality, and various requirements for model-based support at different stages of decision making process. Then the characteristics of models, and of modeling processes aimed at decision-making support for complex problems are presented. In this part guidelines for model specification and instantiation are illustrated by an actual complex model. This is followed by a discussion of modern methods of model analysis, which include a more detailed discussion of reference point optimization methods, and an outline of methods for sensitivity analysis, and of softly constrained inverse simulation. Finally, an overview of architecture of model-based decision support system is presented.