GE 530 — Multiattribute Decision Making

COURSE REFERENCE NUMBER (CRN): 52757

Course Description: Decisions must often be made in the face of uncertainty. Tradeoffs must be weighed according to each decision maker's own subjective judgment and attitude towards risk. This course provides the student with background and practice in applying tools for subjective decision making when present or future states of nature are uncertain. The first part of the course explores current research in developing computer aids to decision making. Issues in descriptive (how do people currently make decisions) vs. normative (how should people make decisions) approaches are discussed. Multiattribute utility analysis is covered, beginning with theoretical foundations, through assessment procedures, practice, and pitfalls of potential cognitive biases.

Home Page: http://online.engineering.illinois.edu/webcourses/ge530/

Prerequisites: Basic concepts underlying applications of probability and statistics to the analysis of data in the context of engineering design and decision making.

Credit: 4 hours (counts toward a certificate in Systems Engineering)

Instructor: Deborah Thurston