In many problems, information is available from many different sources. Aggregating these diverse bits of information is important to good decision-making but also leads to special statistical problems in developing models to characterize the information. Prior research in this areas has relied primarily on the use of historical data as a basis for modelling the information sources. The proposed research develops a Bayesian framework that a decision maker can use to encode his subjective knowledge about the information sources in order to aggregate their information. This framework features a highly flexible environment for modelling the probabilistic nature and interrelationships of the information sources and requires straightforward and intuitive subjective judgements using proven decision-analytic assessment techniques. Analysis of the assessments to produce a posterior distribution for the event of interest is accomplished through analytical, numerical or Monte Carlo techniques.

Agency
National Science Foundation (NSF)
Institute
Division of Social and Economic Sciences (SES)
Application #
9022616
Program Officer
Robin A. Cantor
Project Start
Project End
Budget Start
1991-02-15
Budget End
1994-07-31
Support Year
Fiscal Year
1990
Total Cost
$133,693
Indirect Cost
Name
University of Oregon Eugene
Department
Type
DUNS #
City
Eugene
State
OR
Country
United States
Zip Code
97403