Covariance structure models and influence diagrams

Covariance structure models and influence diagrams

0.00 Avg rating0 Votes
Article ID: iaor19941238
Country: United States
Volume: 39
Issue: 7
Start Page Number: 816
End Page Number: 834
Publication Date: Jul 1993
Journal: Management Science
Authors: ,
Keywords: decision: rules
Abstract:

Statisticians use covariance structure modeling as a versatile tool for modeling and testing theory. The models that result provide explicit and detailed descriptions of stochastic systems. The authors show how covariance structure models are related-mathematically, conceptually, philosophically and practically-to Gaussian influence diagrams as described by Shachter and Kenley. This relationship suggests ways in which covariance structure modeling can be used to advantage in the prescriptive domain of decision analysis. The paper includes an example concerning the management of hazardous materials, in which a covariance structure model is converted to an influence diagram for use in a prescriptive analysis.

Reviews

Required fields are marked *. Your email address will not be published.