A
decision method is an
axiomatic system that contains at least one
action axiom.
Formulation is the first and often most challenging stage in using formal decision methods (and in
decision analysis in particular). The objective of the formulation stage is to develop a formal model of the given decision.
Evaluation is the second and most
algorithmic stage in using formal decision methods. The objective of the evaluation stage is to produce a formal recommendation (and its associated sensitivities) from a formal model of the decision situation.
See more at Wikipedia.org...
Free Download Now!
