Editing Decision model (section)

{{About|formal decision models|other uses|Appraisal (disambiguation)}}
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A '''decision model''' in [[decision theory]] is the starting point for a [[Decision making|decision]] method within a formal ([[axiom]]atic) system. Decision models contain at least one [[action axiom]].

An action is in the form "IF <this> is true, THEN do <that>". An action axiom tests a condition (antecedent) and, if the condition has been met, then (consequent) it suggests (mandates) an action: from knowledge to action. A decision model may also be a network of connected decisions, information and knowledge that represents a decision-making approach that can be used repeatedly (such as one developed using the [[Decision Model and Notation]] standard).

Excepting very simple situations, successful action axioms are used in an iterative manner. For example, for decision analysis, the sole action axiom occurs in the Evaluation stage of a four-step cycle: Formulate, Evaluate, Interpret/Appraise, Refine. Decision models are used both to model a decision being made once, as well as to model a repeatable decision-making approach that will be used over and over again.