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First Price Sealed-Bid Auctions with Bidders’ Heterogeneous Risk Behavior: An Adversarial Risk Analysis Approach 基于竞价人异质风险行为的首价密封拍卖:一种对抗风险分析方法
IF 1.9 4区 管理学 Q3 Decision Sciences Pub Date : 2023-03-07 DOI: 10.1287/deca.2023.0469
Muhammad Ejaz, Nisho Rani, Dr Muhammad Ramzan Sheikh
Bidders’ bidding behavior is analyzed in first price sealed-bid (FPSB) auctions using an adversarial risk analysis (ARA) framework. However, using nonstrategic play and level-k thinking solution concepts, modeling is performed by assuming only two bidders. Also, the aleatory and concept uncertainties have not been yet taken into account by using an ARA framework for these auctions. In this paper, we apply an ARA approach to model bidders’ bidding behavior in a more realistic way for FPSB auctions. We assume n bidders that may have different wealth and heterogeneous risk behaviors. We use nonstrategic play and level-k thinking solution concepts, and we take into account aleatory uncertainty in addition to epistemic uncertainty. Finally, concept uncertainty is taken into account to find ARA solutions for these auctions. We also provide numerical examples to illustrate our methodology.
采用对抗风险分析(ARA)框架分析了首价密封投标(FPSB)拍卖中竞标者的投标行为。然而,使用非战略玩法和k级思维解决方案概念,建模是通过假设只有两个竞标者来执行的。此外,在使用ARA框架进行这些拍卖时,还没有考虑到选择性和概念上的不确定性。本文采用ARA方法对FPSB拍卖中竞标者的投标行为进行了更现实的建模。我们假设n个投标人可能有不同的财富和异质风险行为。我们使用非策略玩法和k级思维解决方案概念,除了认知不确定性之外,我们还考虑了选择性不确定性。最后,考虑概念不确定性,为这些拍卖寻找ARA解决方案。我们还提供了数值例子来说明我们的方法。
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引用次数: 0
Closing the Gap Between Decision Analysis and Policy Analysts Before the Next Pandemic 在下一次大流行之前缩小决策分析和政策分析师之间的差距
IF 1.9 4区 管理学 Q3 Decision Sciences Pub Date : 2023-02-28 DOI: 10.1287/deca.2023.0468
R. Dillon, V. Bier, R. S. John, Abdullah Althenayyan
Decision analysis (DA) is an explicitly prescriptive discipline that separates beliefs about uncertainties from value preferences in modeling to support decision making. Researchers have been advancing DA tools for the last 60 years to support decision makers handling complex decisions requiring subjective judgments. Recently, some DA researchers and practitioners wondered whether the difficult decisions made during the COVID-19 pandemic regarding testing, masking, closing and reopening businesses, allocating ventilators, and prioritizing vaccines would have been improved with more DA involvement. With its focus on quantifying uncertainties, value trade-offs, and risk attitudes, DA should have been a valuable tool for decision makers during the pandemic. To influence decisions, DA applications require interactions with policymakers and experts to construct formal representations of the decision frame, elicit uncertainties, and assess risk tolerances and trade-offs among competing objectives. Unfortunately, such involvement of decision analysts in the process of decision making and policy setting did not occur during much of the COVID-19 pandemic. This lack of participation may have been partly because many decision makers were unaware of when DA could be valuable in helping with the challenges of the COVID-19 pandemic. In addition, decision analysts were perhaps not sufficiently adept at inserting themselves into the policy process at critical junctures when their expertise could have been helpful. Funding: This research was partially supported by the U.S. Department of Homeland Security through the Center for Accelerating Operational Efficiency at Arizona State University.
决策分析(DA)是一门明确的规定性学科,它将建模中的不确定性与价值偏好分离开来,以支持决策制定。在过去的60年里,研究人员一直在推进数据分析工具,以支持决策者处理需要主观判断的复杂决策。最近,一些DA研究人员和从业人员想知道,如果DA更多地参与,在COVID-19大流行期间做出的关于检测、遮盖、关闭和重新开放企业、分配呼吸机和优先接种疫苗的艰难决定是否会得到改善。发展评估侧重于量化不确定性、价值权衡和风险态度,本应成为大流行期间决策者的宝贵工具。为了影响决策,数据分析应用程序需要与决策者和专家进行交互,以构建决策框架的正式表示,引出不确定性,并评估风险容忍度和竞争目标之间的权衡。不幸的是,在COVID-19大流行期间,决策分析人员在决策和政策制定过程中的这种参与并没有发生。缺乏参与的部分原因可能是许多决策者不知道发展援助何时可以在帮助应对COVID-19大流行挑战方面发挥重要作用。此外,决策分析人员也许不善于在他们的专门知识可能有所帮助的关键时刻参与政策过程。资助:本研究部分由美国国土安全部通过亚利桑那州立大学加速运营效率中心提供支持。
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引用次数: 2
Interdicting Attack Plans with Boundedly Rational Players and Multiple Attackers: An Adversarial Risk Analysis Approach 具有有限理性参与者和多个攻击者的拦截攻击计划:一种对抗风险分析方法
IF 1.9 4区 管理学 Q3 Decision Sciences Pub Date : 2023-02-03 DOI: 10.1287/deca.2023.0471
Eric B. DuBois, Ashley Peper, Laura A. Albert
Cybersecurity planning supports the selection of and implementation of security controls in resource-constrained settings to manage risk. Doing so requires considering adaptive adversaries with different levels of strategic sophistication in modeling efforts to support risk management. However, most models in the literature only consider rational or nonstrategic adversaries. Therefore, we study how to inform defensive decision making to mitigate the risk from boundedly rational players, with a particular focus on making integrated, interdependent planning decisions. To achieve this goal, we introduce a modeling framework for selecting a portfolio of security mitigations that interdict adversarial attack plans that uses a structured approach for risk analysis. Our approach adapts adversarial risk analysis and cognitive hierarchy theory to consider a maximum-reliability path interdiction problem with a single defender and multiple attackers who have different goals and levels of strategic sophistication. Instead of enumerating all possible attacks and defenses, we introduce a solution technique based on integer programming and approximation algorithms to iteratively solve the defender’s and attackers’ problems. A case study illustrates the proposed models and provides insights into defensive planning. Funding: A. Peper and L. A. Albert were supported in part by the National Science Foundation [Grant 2000986].
网络安全规划支持在资源受限的环境中选择和实施安全控制措施,以管理风险。这样做需要在建模工作中考虑具有不同战略成熟度级别的自适应对手,以支持风险管理。然而,文献中的大多数模型只考虑理性的或非战略性的对手。因此,我们研究如何为防御性决策提供信息,以减轻有限理性参与者的风险,并特别关注制定综合的、相互依赖的规划决策。为了实现这一目标,我们引入了一个建模框架,用于选择一组安全缓解措施,以阻止使用结构化方法进行风险分析的对抗性攻击计划。我们的方法采用对抗风险分析和认知层次理论来考虑具有不同目标和战略复杂程度的单个防御者和多个攻击者的最大可靠性路径拦截问题。我们不是列举所有可能的攻击和防御,而是引入一种基于整数规划和近似算法的求解技术来迭代解决防御者和攻击者的问题。一个案例研究说明了所提出的模型,并提供了对防御计划的见解。资助:A. Peper和L. A. Albert得到了美国国家科学基金会的部分支持[Grant 2000986]。
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引用次数: 1
Group Structure and Information Distribution on the Emergence of Collective Intelligence 集体智慧产生的群体结构和信息分布
IF 1.9 4区 管理学 Q3 Decision Sciences Pub Date : 2023-01-10 DOI: 10.1287/deca.2022.0466
Ming Tang, Huchang Liao
More and more decision-making problems are being solved by groups. Collective intelligence is the ability of groups to perform well when solving complex problems. Thus, it is important to encourage collective intelligence to emerge from groups. In this study, we explore how two critical characteristics of groups, that is, group structure and individual knowledge in groups, influence the emergence of collective intelligence. To do this, we propose a measure for group structure using the collaboration network of a group and a measure for the distribution of individual knowledge in groups. Group structure is measured based on the intensities of links and whether the network is hierarchical or flat. The distribution of individual knowledge is measured from the perspective of whether group information is shared or unique. Social interactions among group members and individual changes in opinion are modeled based on a simulation technique. We find that unbalanced information distribution undermines group performance, whereas group structure can modify the effect of information distribution. We also find that groups with broadly distributed knowledge are good at solving complex problems. Funding: This work was supported by the National Natural Science Foundation of China [Grants 72171158, 71771156 and 71971145].
越来越多的决策问题由团体来解决。集体智慧是指群体在解决复杂问题时表现良好的能力。因此,鼓励集体智慧从群体中产生是很重要的。在本研究中,我们探讨了群体的两个关键特征,即群体结构和群体中的个人知识,如何影响集体智慧的出现。为此,我们提出了一种基于群体协作网络的群体结构度量和个体知识在群体中的分布度量。群体结构是根据链接的强度和网络是分层的还是扁平的来衡量的。个体知识的分布是从群体信息是共享的还是独特的角度来衡量的。群体成员之间的社会互动和个人意见的变化基于仿真技术建模。研究发现,不平衡的信息分布会破坏群体绩效,而群体结构会改变信息分布的效果。我们还发现,拥有广泛分布知识的团队擅长解决复杂问题。基金资助:国家自然科学基金项目[基金资助:72171158、71771156、71971145]。
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引用次数: 1
Determining the Accuracy of the Triangular and PERT Distributions 确定三角分布和PERT分布的准确性
IF 1.9 4区 管理学 Q3 Decision Sciences Pub Date : 2023-01-05 DOI: 10.1287/deca.2022.0464
Imran A. Khan, J. Bickel, Robert K. Hammond
The Triangular and PERT (Program Evaluation Review Technique) distribution probability density functions are commonly used in decision and risk analyses. These distributions are popular because they are each specified by only three points (two support bounds and the mode) that are believed to be easy to assess from experts or data. In this paper, we carefully analyze how close the Triangular and PERT distributions are to other distributions sharing the same support and mode and show that the errors induced by the Triangular and PERT distributions are significant. We further show that distributions that are characterized by the median tend to provide a better fit than do those that are characterized by the mode. Funding: This research was supported by the Equinor Fellows Program and the Operating System 2.0 research program developed by the Construction Industry Institute.
三角分布概率密度函数和PERT (Program Evaluation Review Technique)分布概率密度函数是决策和风险分析中常用的方法。这些分布很受欢迎,因为它们每个只由三点(两个支持边界和模式)指定,这些点被认为很容易从专家或数据中进行评估。在本文中,我们仔细分析了三角分布和PERT分布与具有相同支撑和模态的其他分布的接近程度,并表明三角分布和PERT分布引起的误差是显著的。我们进一步表明,以中位数为特征的分布往往比以众数为特征的分布提供更好的拟合。资助:本研究由Equinor研究员项目和建筑工业研究所开发的操作系统2.0研究项目支持。
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引用次数: 0
Information Density in Decision Analysis 决策分析中的信息密度
IF 1.9 4区 管理学 Q3 Decision Sciences Pub Date : 2023-01-05 DOI: 10.1287/deca.2022.0465
Gordon B. Hazen, E. Borgonovo, Xuefei Lu
Information value has been proposed and used as a probabilistic sensitivity measure, the idea being that uncertain parameters having higher information value are precisely those to which an optimal decision is more sensitive. In this paper, we study the notion of information density as a graphical complement to information value analysis, one that augments an information value calculation with associated directions of information gain. We formally examine mathematical details absent from its earlier presentation that guarantee information density exists and is well posed and describe its relationship to alternate measures of information value. We present its application in the context of a realistic case study and discuss the associated insights.
信息值被提出并用作概率灵敏度度量,其思想是具有较高信息值的不确定参数恰恰是最优决策对其更敏感的参数。在本文中,我们研究了信息密度的概念,作为信息价值分析的图形补充,它增加了信息价值计算与相关的信息增益方向。我们正式检查数学细节没有从它的早期介绍,保证信息密度的存在和良好的定位,并描述其与信息价值的替代措施的关系。我们在一个现实的案例研究中提出了它的应用,并讨论了相关的见解。
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引用次数: 0
Appreciation to Referees, 2022 感谢裁判,2022
IF 1.9 4区 管理学 Q3 Decision Sciences Pub Date : 2022-12-01 DOI: 10.1287/deca.2022.0459
Vicki Bier, the Editor-in-Chief of Decision Analysis, would like to thank the referees who generously provide expert counsel and guidance on a voluntary basis. Without them, the journal could not function. The following list acknowledges those individuals who acted as referees for papers considered during calendar year 2022.
《决策分析》的主编Vicki Bier要感谢在自愿的基础上慷慨地提供专家咨询和指导的裁判。没有他们,杂志就无法运作。以下名单确认在2022日历年期间担任论文评审的个人。
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引用次数: 0
Pricing Decisions with Social Interactions: A Game-Theoretic Model 基于社会互动的定价决策:一个博弈论模型
IF 1.9 4区 管理学 Q3 Decision Sciences Pub Date : 2022-11-23 DOI: 10.1287/deca.2022.0463
Xiaofang Wang, Yaoyao Yang, Jun Zhuang
For media or digital products with quality uncertainty like online games, movies, theater plays, software, and smartphone applications, online customers may strategically delay their purchase waiting for online reviews and their peers’ purchase decisions. Thus, a firm needs to consider both social learning and positive network externality to anticipate the customers’ purchasing decisions and set a good pricing strategy over time. This paper investigates how these dual concerns affect the strategic interaction between a firm using preannounced pricing or responsive pricing and strategic customers in a two-period game-theoretic model. Deviating from conventional wisdom suggesting that social learning and externality work in a similar way, our results highlight their differences and provide valuable managerial insights. Although social learning and externality play a similar role in expanding the increasing-price-optimal region, they are different in other aspects: The firm will be worse off with learning if the externality gets stronger, whereas it will be worse off or better off with learning if learning gets stronger. In addition, we characterize the condition under which responsive pricing may outperform preannounced pricing. We further find that the firm’s discount factor has an influence on the firm’s pricing strategy selection. Funding: X. Wang and Y. Yang acknowledge financial support from the National Natural Science Foundation of China [Grant 72071204]. Supplemental Material: The online appendix is available at https://doi.org/10.1287/deca.2022.0463 .
对于质量不确定的媒体或数字产品,如网络游戏、电影、戏剧、软件和智能手机应用程序,在线客户可能会策略性地推迟购买,等待在线评论和同伴的购买决定。因此,企业需要考虑社会学习和积极的网络外部性,以预测客户的购买决策,并随着时间的推移制定良好的定价策略。本文在一个两期博弈论模型中研究了这些双重关注如何影响使用预先宣布定价或响应式定价的企业与战略客户之间的战略互动。传统观点认为社会学习和外部性以相似的方式起作用,我们的研究结果突出了它们的差异,并提供了有价值的管理见解。尽管社会学习和外部性在扩大价格增长最优区域方面发挥了相似的作用,但它们在其他方面却有所不同:外部性越强,企业的学习状况就越差;而学习性越强,企业的学习状况就越差或越好。此外,我们描述了响应式定价可能优于预先宣布定价的条件。我们进一步发现,企业的折扣因子对企业的定价策略选择有影响。基金资助:王欣、杨宇感谢国家自然科学基金资助[基金号:72071204]。补充材料:在线附录可在https://doi.org/10.1287/deca.2022.0463上获得。
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引用次数: 2
The Legacy of Peter Fishburn: Foundational Work and Lasting Impact 彼得·菲什伯恩的遗产:基础性工作和持久影响
IF 1.9 4区 管理学 Q3 Decision Sciences Pub Date : 2022-11-23 DOI: 10.1287/deca.2022.0461
Andrea C. Hupman, Jay R. Simon
Peter Fishburn has had a tremendous impact on the field of decision analysis, developing ideas that would come to be foundational across decision analysis and that would impact the literature on decision making in economics, psychology, finance, engineering, and mathematics. This paper provides an overview of his legacy. We summarize 11 of his influential papers. We then trace his impact on recent research in topics including preference representation and elicitation, risk attitudes, time preferences, health preferences, behavioral decision making, social choice and voting, and geometric analyses. Supplemental Material: The online appendix is available at https://doi.org/10.1287/deca.2022.0461 .
彼得·菲什伯恩对决策分析领域产生了巨大的影响,他提出的一些思想后来成为决策分析的基础,并影响了经济学、心理学、金融学、工程学和数学等领域的决策文献。本文概述了他的遗产。我们总结了他11篇有影响的论文。然后,我们追溯了他对近期研究的影响,包括偏好表征和启发、风险态度、时间偏好、健康偏好、行为决策、社会选择和投票,以及几何分析。补充材料:在线附录可在https://doi.org/10.1287/deca.2022.0461上获得。
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引用次数: 1
Health Decision Analysis: Evolution, Trends, and Emerging Topics 健康决策分析:演变、趋势和新兴主题
IF 1.9 4区 管理学 Q3 Decision Sciences Pub Date : 2022-10-11 DOI: 10.1287/deca.2022.0460
Elisa F. Long, G. Montibeller, Jun Zhuang
Health remains one of the most challenging realms for decision makers and policy making while critical for the well-being of humans, the stability of societies, and the development of economies. Decision making in this field ranges from medical doctors identifying the best treatments for patients, healthcare companies selecting the most promising drugs for development, healthcare providers deciding for adequate levels of resourcing, health regulators deciding whether to approve a new medicine or health technology, to regional and national health departments identifying how to increase the health security of regions and countries. In this positioning paper, and introduction to this Special Issue, we present the history, evolution, and trends of health decision analysis and suggest that these developments and news trends can be conceptualized as an emerging field of applied research for our discipline: Health Decision Analysis.
卫生仍然是决策者和政策制定最具挑战性的领域之一,同时对人类福祉、社会稳定和经济发展至关重要。这一领域的决策范围从医生确定对患者的最佳治疗方法,医疗保健公司选择最有前途的药物进行开发,医疗保健提供者决定适当的资源水平,卫生监管机构决定是否批准一种新药或卫生技术,到地区和国家卫生部门确定如何增加地区和国家的卫生安全。在这篇定位论文和本期特刊的导论中,我们介绍了健康决策分析的历史、演变和趋势,并建议这些发展和新闻趋势可以被概念化为我们学科的一个新兴应用研究领域:健康决策分析。
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引用次数: 2
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Decision Analysis
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