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Decision model

A decision method is a formal (axiomatic) system, starting with a decision model, that contains at least one action axiom. An action is of 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). A decision method is a formal (axiomatic) system, starting with a decision model, that contains at least one action axiom. An action is of 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).

[ "Operations management", "Operations research", "Machine learning", "Mathematical economics", "decision modelling" ]
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