Making Hard Decisions: An Introduction to Decision Analysis

Rating:
Summary: Studying for an MBA - buy this book
Review: A perfect balance for those with mathematical expertise and those without - this book provides a well written and comprehensive view of decision making. Lots of easy to understand and relevant case studies - complete with answers.

I needed to get on top of this subject for my MBA course and, although there is a lot to this subject, in one book there is everything one could possibly need to know.

For corporate decision makers needing to get on top of the subject, this book provides a detailed enough insight to the subject to get started straight away. Its strength is that it is not trying to sell a Microsoft Excel add-in - in fact, it shows how to do without Excel add-ins (although these do make the job a lot easier).

Five stars.

Rating:
Summary: A clear, accessible introduction to an important field.
Review: This is a very accessible book. My classes routinely commend it. It begins by emphasizing the importance of clearly distinguishing between values, decisions and facts. It discusses the need to clarify one's values and then determine the decisions and facts that are relevant. It then discusses sensitivity analysis techniques for identifying which facts are crucial to your analysis. It discusses techniques for deciding when to gather further information. Finally it provides a very accessible discussion of how probability theory can be used to assess your payoff from different decisions. Dr. Robert F. Bordley, General Motors

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Summary: The best available intro to normative decision analysis
Review: This is the best book available today for individuals interested in an introduction to normative (as opposed to descriptive) decision analysis. Although it's accessible to readers with minimal mathematical training, it is also very satisfactory for those with more mathematical sophistication, and I use it regularly as a reference in my own professional work. Clear explanations, excellent problems and exercises, and very well-organized. I highly recommend it.Michael S. Johnson, Arete Consulting, Portland, OR