Editing Decision analysis (section)

==Applications==
Decision-analytic methods have been used in a wide variety of fields, including [[business]] ([[planning]], [[marketing]], [[negotiation]]), [[management]], [[environmental remediation]], [[health care]], [[research]], [[energy]], [[exploration]], [[litigation]] and [[dispute resolution]], etc.  An important early application was a study of the pros and cons of hurricane seeding, undertaken by the Stanford Research Institute in the early 1970s for the [[Environmental Science Services Administration]] (a predecessor of the [[National Oceanic and Atmospheric Administration]]).<ref>{{cite journal |last1=Sundqvist |first1=H. |first2=R.A. |last2=Howard |first3=J.E. |last3=Matheson |first4=D.W. |last4=North |title=Hurricane Seeding Analysis |journal=Science |year=1973 |volume=181 |issue=4104 |pages=1072–1073 |doi=10.1126/science.181.4104.1072 |pmid=17731270 |bibcode=1973Sci...181.1072S |s2cid=34907224 }}</ref>

Decision analysis is today used by major corporations to make multibillion-dollar capital investments. For example, In 2010, Chevron won the Decision Analysis Society Practice Award for its use of decision analysis in all major decisions.<ref>{{Cite web|date=15 May 2016|title=DAS Practice Award|url=https://www.informs.org/Recognize-Excellence/Community-Prizes-and-Awards/Decision-Analysis-Society/DAS-Practice-Award|archive-url=https://web.archive.org/web/20160913132443/https://www.informs.org/Recognize-Excellence/Community-Prizes-and-Awards/Decision-Analysis-Society/DAS-Practice-Award|archive-date=13 September 2016|work=INFORMS}}</ref> In a video detailing Chevron's use of decision analysis, Chevron Vice Chairman George Kirkland notes that "decision analysis is a part of how Chevron does business for a simple, but powerful, reason: it works."<ref>{{Cite web|date=1 December 2010|title=How Chevron Makes Decisions|url=https://www.youtube.com/watch?v=JRCxZA6ay3M|access-date=23 March 2019|work=YouTube|publisher=Chevron}}{{cbignore}}{{Dead Youtube links|date=February 2022}}</ref> It can also be used to make complex personal decisions, such as planning for retirement, deciding when to have a child,<ref>Keeney, R. L., D. A. Vernik (2007) Analysis of the biological clock decision. Decision Analysis, 4, 114–135</ref> planning a major vacation, or choosing among several possible medical treatments. 

*<u>Energy</u>. Decision analysis has been used to structure the energy objectives for Germany.<ref>Keeney, R. L., O. Renn, & D. von Winteffeldt (1987). Structuring West Germany's energy objectives, Energy Policy 15 (4): 352-362. </ref><ref>Höfer, T., R. von Nitzsch, R. Madlener (2020). Using value-focused thinking and multicriteria decision making to evaluate [[energy transition]] alternatives. Decision Analysis, 17, 330-355.</ref>

*<u>[[Entrepreneurship]]</u>. The concept of certainty equivalents from decision analysis was used to design novel and highly efficient mechanisms for funding of new businesses that are desirable to both backers and entrepreneurs.<ref>Bodily, S. E. (2016) Reducing risk and improving incentives in funding entrepreneurs. Decision Analysis, 13, 101–116.</ref>

*<u>Health Care</u>. Decision analysis has been applied to medical decision making regarding [[breast cancer]] [[Medical_diagnosis|diagnosis]]<ref>Alagoz, O., J. Chhatwal, E. S. Burnside (2013) Optimal policies for reducing unnecessary follow-up mammography exams in breast cancer diagnosis. Decision Analysis, 10, 200–224.</ref> and [[therapy]],<ref>Nohdurft, E., E. Long, S. Spinler (2017) Was Angelina Jolie right? Optimizing cancer prevention strategies among BRCA mutation carriers. Decision Analysis, 14, 139–169.</ref> treatment of [[thyroid cancer]],<ref>Esnaola, N. F., S. B. Cantor, S. I. Sherman, J. E. Lee, D. B. Evans (2001) Optimal treatment strategy in patients with papillary thyroid cancer: a decision analysis. Surgery, 130, 921–930.</ref> and lung cancer.<ref>Lee, J. J., B. N. Bekele, X. Zhou, S. B. Cantor, R. Komaki, J. S. Lee (2006) Decision analysis for prophylactic cranial irradiation for patients with small-cell lung cancer. Journal of Clinical Oncology, 24, 3597-3603.</ref> 

*<u>[[Insurance]]</u>. Decision analysts have explored the use of insurance as a mechanism to encourage adoption of beneficial [[Behavior#Health|health behaviors]].<ref>Meeker, D., C. Thompson, G. Strylewicz, T. K. Knight, J. N. Doctor (2015) Use of insurance against a small loss as an incentive strategy. Decision Analysis, 12, 122–129.</ref> The method has also been applied to determine optimal strategies for purchase of [[long-term care insurance]] as a function of age, wealth, and risk tolerance.<ref>Bodily, S. E., B. Furman (2016) Long-term care insurance decisions. Decision Analysis, 13, 173–191.</ref> 

*<u>Litigation</u>. Attorneys have used decision analysis to identify strategies likely to lead to beneficial outcomes in litigation.<ref>Celona, J.N. (2016) Winning at Litigation through Decision Analysis. Springer, New York.</ref> 

*[[Investment_management|<u>Portfolio Management</u>]]. Decision analysis has been recommended as a method of improving resource allocations in portfolio management.<ref name="SB HBR"/><ref>Salo, A., J. Keisler, A. Morton (2011) Portfolio decision analysis: Improved methods for resource allocation, Springer, New York.</ref> 

*<u>Military Planning</u>. Decision analysis has been applied to the problem of [[Base_Realignment_and_Closure|base closure]].<ref>Ewing, P. L., W. Tarantino, G.S. Parnell (2006) Use of decision analysis in the army base realignment and closure (BRAC) 2005 military value analysis. Decision Analysis, 3, 33-49.</ref> 

*[[Radioactive_waste|<u>Radioactive Waste</u>]]. Decision analysis has been used to evaluate alternatives for radioactive-waste repositories in both the United States and the United Kingdom.<ref>Merkhofer, M. W., & Keeney, R. L. (1987). A multiattribute utility analysis of alternative sites for the disposal of nuclear waste. Risk Analysis, 7, 173–194.</ref><ref>Morton, A., Airoldi, M., & Phillips, L. D. (2009). Nuclear risk management on stage: A decision analysis perspective on the UK’s Committee on Radioactive Waste Management. Risk Analysis, 29, 764–779.</ref>  At a smaller scale, it has also been used to evaluate options for dealing with surplus weapons-grade plutonium.<ref>Dyer, J. S., T. Edmunds, J. C. Butler, J. Jia (1998) A multiattribute utility analysis of alternatives for the disposition of surplus weapons-grade plutonium. Operations Research, 46, 749–762</ref><ref>Butler, J. C., A. N. Chebeskov, J. S. Dyer, T. A. Edmunds, J. Jia,
V. I. Oussanov (2005) The United States and Russia evaluate plutonium disposition options with multiattribute utility theory. Interfaces, 35, 88–101.</ref>

*[[Research_and_development|<u>Research and Development</u>]]. Decision analysis has been used to recommend portfolios of projects to fund in research and development.<ref>Kurth, M., J. M. Keisler, M. E. Bates, T. S. Bridges, J. Summers, I. Linkov (2017) A portfolio decision analysis approach to support energy research and development resource allocation. Energy Policy, 105, 128-135.</ref>

*<u>[[Terrorism]]</u> and [[Homeland_security|<u>Homeland Security</u>]]. Decision analysis has been used to represent the values of both terrorists and defenders to support homeland-security decision making.<ref>Keeney, R. L. (2007) Modeling values for anti-terrorism analysis. Risk Analysis, 27, 585–596.</ref><ref>Keeney, R. L., & D. von Winterfeldt (2011) A value model for evaluating homeland security decisions. Risk Analysis, 31, 1470–1487.</ref>