Dr. Ralph Keeney

Dr. Ralph Keeney

Applying Decision Analysis to Business, Government, and Personal Decision

Dr. Ralph Keeney

Abstract: 

Decision analysis is concerned with helping businesses, government organizations, and individuals make better decisions. This presentation begins with a succinct outline of the concepts and techniques necessary for systematic thinking about and analysis of important decisions. It then presents summaries of the application of these concepts and techniques to three important decisions. One decision concerns the selection of a site for the US government’s nuclear waste repository. The second decision concerns the acquisition of new credit card customers for a large business. Third decision concerns the individual choice of if and when a professional woman should have her first child. Collectively, these three applications illustrate how to apply decision analysis to important engineering, management, and personal decisions.

Dr. Ralph Keeney is a Research Professor of Decision Sciences at the Fuqua School of Business, Duke University. He has a B.S. in engineering from UCLA and a Ph.D. in operations research from MIT. His research interests concern models of decisions involving multiple objectives, application of decision analysis for complex corporate and governmental problems, risk analysis involving life-threatening risks, structuring decisions, and creating innovative alternatives. Professor Keeney is the author of numerous published articles and several books on various aspects of decision making. Professor Keeney received the Frank P. Ramsey medal for distinguished contributions in decision analysis and is a member of the National Academy of Engineering.

Dr. Ralph Keeney
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