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Willingness-to-pay (WTP) measures of the effects of changes in health on a person's welfare are more comprehensive than traditional cost-of-illness (COI) measures, but they are sometimes difficult to obtain. The authors investigated two approaches for measuring heart patients' WTP for changes in their angina symptoms. First, actual expenditures and(More)
Both the selection of doses of pharmaceutical agents and comparisons between pharmaceutical agents have long been based on the nonquantified concept of the risk-benefit ratio. Though useful, this concept implies a data comparison that is difficult to make: the toxicity versus the efficacy of a drug compound. This research demonstrates an approach for(More)
Through surveys of students and junior professionals and interviews with business and government executives, we studied Chinese choices and fairness perceptions in risky health and safety decisions. The survey responses were compared with American responses from an earlier study by Keller and Sarin. The survey results show that the American and Chinese(More)
T his paper presents a multiple-objective decision analysis approach to qualitatively and quantitatively evaluate different potassium iodide (KI) distribution plans for a hypothetical local region. We developed this approach for a U.S. National Research Council committee that was charged with figuring out the best means for protecting people against(More)
We provide a decision analysis perspective on the decision making process leading to the merger of The Institute of Management Sciences (TIMS) and the Operations Research Society of America (ORSA) to form the Institute for Operations Research and the Management Sciences (INFORMS). Throughout the merger negotiation era from 1989 until the merger in 1995,(More)
Information ambiguity is prevalent in organizations and may in¯uence management decisions. This study examines, given imprecise probabilities or outcomes, how managers decide which department's performance to investigate further when they are provided with performance benchmarks expressed in numerical intervals. Seventy-nine MBA students participated in two(More)
Traditional economic decision theory proposes that people behave in certain ways when faced with a well-formulated set of alternatives and information. It is a normative theory; it suggests that people should act according to certain decision rules, but not that they will necessarily do so in reality. The standard assumption is that a person has a utility(More)