Making Hard Decisions with Decision Tools Suite Update Edition
by Robert T. Clemen, Terence Reilly

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Book Summary Information

Book Reviews of Making Hard Decisions with Decision Tools Suite Update Edition

Book Review: Introduction to Decision Analysis
Summary: 5 Stars

The book is written clearly and direct to the points. Influence Diagrams, Decision Trees, and Risk analysis are done along with the Palisade package. The theory is covered and even after the software expiration and a reader decides not to buy it, the book provides enough details to construct models in Excel or R (free statistical software/programming language), of course without fancy diagrams. A few of the figures show policy analysis but the demo package does not have this feature.

The book also serves as an introduction to probability and statistics (Ch9, 10) in the context of decision science with concrete examples. Each chapter ends with summary and references with helpful comments on each of them. Exercises are provided and selected answers are given in the back of the book. Overall, more decision tree examples are treated than influence diagram ones.

Another good book related to this one would be Practical Management Science by Winston and Albright. It provides nice Excel examples and also comes with Palisade Decision Tools Suite with the same restrictions as this book.

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