Decision Analysis and Applications by Scenario Trees
Jun Feng · Industrial Engineering and Engineering Management · 2000
The main goal of this paper is to introduce a new approach to represent and solve Bayesian decision problems_scenario tress. The solving method is called the pruning method. In scenario tress,the conditional probability for each edge emanating from a chance node is not needed. Instead,a joint probability for each path from the root node to a leaf node is required. The pruning method for scenario tress solutions is illustrated by a real\|world case.Finally, the comparison of scenario tress to decision trees is made.