Risk Assessment And Decision Analysis With Bayesian Networks


Risk Assessment And Decision Analysis With Bayesian Networks
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Risk Assessment And Decision Analysis With Bayesian Networks


Risk Assessment And Decision Analysis With Bayesian Networks
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Author : Norman Fenton
language : en
Publisher: CRC Press
Release Date : 2018-09-03

Risk Assessment And Decision Analysis With Bayesian Networks written by Norman Fenton and has been published by CRC Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-09-03 with Mathematics categories.


Since the first edition of this book published, Bayesian networks have become even more important for applications in a vast array of fields. This second edition includes new material on influence diagrams, learning from data, value of information, cybersecurity, debunking bad statistics, and much more. Focusing on practical real-world problem-solving and model building, as opposed to algorithms and theory, it explains how to incorporate knowledge with data to develop and use (Bayesian) causal models of risk that provide more powerful insights and better decision making than is possible from purely data-driven solutions. Features Provides all tools necessary to build and run realistic Bayesian network models Supplies extensive example models based on real risk assessment problems in a wide range of application domains provided; for example, finance, safety, systems reliability, law, forensics, cybersecurity and more Introduces all necessary mathematics, probability, and statistics as needed Establishes the basics of probability, risk, and building and using Bayesian network models, before going into the detailed applications A dedicated website contains exercises and worked solutions for all chapters along with numerous other resources. The AgenaRisk software contains a model library with executable versions of all of the models in the book. Lecture slides are freely available to accredited academic teachers adopting the book on their course.



Risk Assessment And Decision Analysis With Bayesian Networks


Risk Assessment And Decision Analysis With Bayesian Networks
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Author : Norman E. Fenton
language : en
Publisher:
Release Date : 2013

Risk Assessment And Decision Analysis With Bayesian Networks written by Norman E. Fenton and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with BUSINESS & ECONOMICS categories.


IdiomIdioms to Deal with the Key Notions of "Motive" and "Opportunity"Idiom for Modeling Dependency between Different Pieces of EvidenceAlibi Evidence IdiomPutting it All Together: Vole ExampleUsing BNs to Expose Further Fallacies of Legal ReasoningSummaryFurther ReadingAppendix A: The Basics of CountingAppendix B: The Algebra of Node Probability TablesAppendix C: Junction Tree AlgorithmAppendix D: Dynamic DiscretizationAppendix E: Statistical Distributions.



Risk Assessment And Decision Analysis With Bayesian Networks


Risk Assessment And Decision Analysis With Bayesian Networks
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Author : Norman Fenton
language : en
Publisher: CRC Press
Release Date : 2012-11-07

Risk Assessment And Decision Analysis With Bayesian Networks written by Norman Fenton and has been published by CRC Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-11-07 with Business & Economics categories.


Although many Bayesian Network (BN) applications are now in everyday use, BNs have not yet achieved mainstream penetration. Focusing on practical real-world problem solving and model building, as opposed to algorithms and theory, Risk Assessment and Decision Analysis with Bayesian Networks explains how to incorporate knowledge with data to develop and use (Bayesian) causal models of risk that provide powerful insights and better decision making. Provides all tools necessary to build and run realistic Bayesian network models Supplies extensive example models based on real risk assessment problems in a wide range of application domains provided; for example, finance, safety, systems reliability, law, and more Introduces all necessary mathematics, probability, and statistics as needed The book first establishes the basics of probability, risk, and building and using BN models, then goes into the detailed applications. The underlying BN algorithms appear in appendices rather than the main text since there is no need to understand them to build and use BN models. Keeping the body of the text free of intimidating mathematics, the book provides pragmatic advice about model building to ensure models are built efficiently. A dedicated website, www.BayesianRisk.com, contains executable versions of all of the models described, exercises and worked solutions for all chapters, PowerPoint slides, numerous other resources, and a free downloadable copy of the AgenaRisk software.



Bayesian Decision Analysis


Bayesian Decision Analysis
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Author : Jim Q. Smith
language : en
Publisher: Cambridge University Press
Release Date : 2010-09-23

Bayesian Decision Analysis written by Jim Q. Smith and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-09-23 with Mathematics categories.


Bayesian decision analysis supports principled decision making in complex domains. This textbook takes the reader from a formal analysis of simple decision problems to a careful analysis of the sometimes very complex and data rich structures confronted by practitioners. The book contains basic material on subjective probability theory and multi-attribute utility theory, event and decision trees, Bayesian networks, influence diagrams and causal Bayesian networks. The author demonstrates when and how the theory can be successfully applied to a given decision problem, how data can be sampled and expert judgements elicited to support this analysis, and when and how an effective Bayesian decision analysis can be implemented. Evolving from a third-year undergraduate course taught by the author over many years, all of the material in this book will be accessible to a student who has completed introductory courses in probability and mathematical statistics.



Expert Judgement In Risk And Decision Analysis


Expert Judgement In Risk And Decision Analysis
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Author : Anca M. Hanea
language : en
Publisher: Springer Nature
Release Date : 2021-02-19

Expert Judgement In Risk And Decision Analysis written by Anca M. Hanea and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-02-19 with Business & Economics categories.


This book pulls together many perspectives on the theory, methods and practice of drawing judgments from panels of experts in assessing risks and making decisions in complex circumstances. The book is divided into four parts: Structured Expert Judgment (SEJ) current research fronts; the contributions of Roger Cooke and the Classical Model he developed; process, procedures and education; and applications. After an Introduction by the Editors, the first part presents chapters on expert elicitation of parameters of multinomial models; the advantages of using performance weighting by advancing the “random expert” hypothesis; expert elicitation for specific graphical models; modelling dependencies between experts’ assessments within a Bayesian framework; preventive maintenance optimization in a Bayesian framework; eliciting life time distributions to parametrize a Dirichlet process; and on an adversarial risk analysis approach for structured expert judgment studies. The second part includes Roger Cooke’s oration from 1995 on taking up his chair at Delft University of Technology; one of the editors reflections on the early decade of the Classical Model development and use; a current overview of the theory of the Classical Model, providing a deep and comprehensive perspective on its foundations and its application; and an interview with Roger Cooke. The third part starts with an interview with Professor Dame Anne Glover, who served as the Chief Scientific Advisor to the President of the European Commission. It then presents chapters on the characteristics of good elicitations by reviewing those advocated and applied; the design and development of a training course for SEJ; and on specific experiences with SEJ protocols with the intention of presenting the challenges and insights collected during these journeys. Finally, the fourth (and largest) part begins with some reflections from Willy Aspinall on his many experiences in applying the Classical Model in several application domains; it continues with related reflections on imperfect elicitations; and then it presents chapters with applications on medicines policy and management, supply chain cyber risk management, geo-political risks, terrorism and the risks facing businesses looking to internationalise.



Modeling And Reasoning With Bayesian Networks


Modeling And Reasoning With Bayesian Networks
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Author : Adnan Darwiche
language : en
Publisher: Cambridge University Press
Release Date : 2009-04-06

Modeling And Reasoning With Bayesian Networks written by Adnan Darwiche and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-04-06 with Computers categories.


This book provides a thorough introduction to the formal foundations and practical applications of Bayesian networks. It provides an extensive discussion of techniques for building Bayesian networks that model real-world situations, including techniques for synthesizing models from design, learning models from data, and debugging models using sensitivity analysis. It also treats exact and approximate inference algorithms at both theoretical and practical levels. The author assumes very little background on the covered subjects, supplying in-depth discussions for theoretically inclined readers and enough practical details to provide an algorithmic cookbook for the system developer.



Bayesian Networks


Bayesian Networks
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Author : Olivier Pourret
language : en
Publisher: John Wiley & Sons
Release Date : 2008-04-30

Bayesian Networks written by Olivier Pourret and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-04-30 with Mathematics categories.


Bayesian Networks, the result of the convergence of artificial intelligence with statistics, are growing in popularity. Their versatility and modelling power is now employed across a variety of fields for the purposes of analysis, simulation, prediction and diagnosis. This book provides a general introduction to Bayesian networks, defining and illustrating the basic concepts with pedagogical examples and twenty real-life case studies drawn from a range of fields including medicine, computing, natural sciences and engineering. Designed to help analysts, engineers, scientists and professionals taking part in complex decision processes to successfully implement Bayesian networks, this book equips readers with proven methods to generate, calibrate, evaluate and validate Bayesian networks. The book: Provides the tools to overcome common practical challenges such as the treatment of missing input data, interaction with experts and decision makers, determination of the optimal granularity and size of the model. Highlights the strengths of Bayesian networks whilst also presenting a discussion of their limitations. Compares Bayesian networks with other modelling techniques such as neural networks, fuzzy logic and fault trees. Describes, for ease of comparison, the main features of the major Bayesian network software packages: Netica, Hugin, Elvira and Discoverer, from the point of view of the user. Offers a historical perspective on the subject and analyses future directions for research. Written by leading experts with practical experience of applying Bayesian networks in finance, banking, medicine, robotics, civil engineering, geology, geography, genetics, forensic science, ecology, and industry, the book has much to offer both practitioners and researchers involved in statistical analysis or modelling in any of these fields.



Breakthroughs In Decision Science And Risk Analysis


Breakthroughs In Decision Science And Risk Analysis
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Author : Louis Anthony Cox, Jr.
language : en
Publisher: John Wiley & Sons
Release Date : 2015-02-18

Breakthroughs In Decision Science And Risk Analysis written by Louis Anthony Cox, Jr. and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-02-18 with Business & Economics categories.


Discover recent powerful advances in the theory, methods, and applications of decision and risk analysis Focusing on modern advances and innovations in the field of decision analysis (DA), Breakthroughs in Decision Science and Risk Analysis presents theories and methods for making, improving, and learning from significant practical decisions. The book explains these new methods and important applications in an accessible and stimulating style for readers from multiple backgrounds, including psychology, economics, statistics, engineering, risk analysis, operations research, and management science. Highlighting topics not conventionally found in DA textbooks, the book illustrates genuine advances in practical decision science, including developments and trends that depart from, or break with, the standard axiomatic DA paradigm in fundamental and useful ways. The book features methods for coping with realistic decision-making challenges such as online adaptive learning algorithms, innovations in robust decision-making, and the use of a variety of models to explain available data and recommend actions. In addition, the book illustrates how these techniques can be applied to dramatically improve risk management decisions. Breakthroughs in Decision Science and Risk Analysis also includes: An emphasis on new approaches rather than only classical and traditional ideas Discussions of how decision and risk analysis can be applied to improve high-stakes policy and management decisions Coverage of the potential value and realism of decision science within applications in financial, health, safety, environmental, business, engineering, and security risk management Innovative methods for deciding what actions to take when decision problems are not completely known or described or when useful probabilities cannot be specified Recent breakthroughs in the psychology and brain science of risky decisions, mathematical foundations and techniques, and integration with learning and pattern recognition methods from computational intelligence Breakthroughs in Decision Science and Risk Analysis is an ideal reference for researchers, consultants, and practitioners in the fields of decision science, operations research, business, management science, engineering, statistics, and mathematics. The book is also an appropriate guide for managers, analysts, and decision and policy makers in the areas of finance, health and safety, environment, business, engineering, and security risk management.



Foundations Of Risk Analysis


Foundations Of Risk Analysis
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Author : Terje Aven
language : en
Publisher: John Wiley & Sons
Release Date : 2004-01-09

Foundations Of Risk Analysis written by Terje Aven and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004-01-09 with Mathematics categories.


Everyday we face decisions that carry an element of risk and uncertainty. The ability to analyse, communicate and control the level of risk entailed by these decisions remains one of the most pressing challenges to the analyst, scientist and manager. This book presents the foundational issues in risk analysis ? expressing risk, understanding what risk means, building risk models, addressing uncertainty, and applying probability models to real problems. The principal aim of the book is to give the reader the knowledge and basic thinking they require to approach risk and uncertainty to support decision making. Presents a statistical framework for dealing with risk and uncertainty. Includes detailed coverage of building and applying risk models and methods. Offers new perspectives on risk, risk assessment and the use of parametric probability models. Highlights a number of applications from business and industry. Adopts a conceptual approach based on elementary probability calculus and statistical theory. Foundations of Risk Analysis provides a framework for understanding, conducting and using risk analysis suitable for advanced undergraduates, graduates, analysts and researchers from statistics, engineering, finance, medicine and the physical sciences, as well as for managers facing decision making problems involving risk and uncertainty.



Bayesian Networks And Influence Diagrams A Guide To Construction And Analysis


Bayesian Networks And Influence Diagrams A Guide To Construction And Analysis
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Author : Uffe B. Kjærulff
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-11-30

Bayesian Networks And Influence Diagrams A Guide To Construction And Analysis written by Uffe B. Kjærulff and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-11-30 with Computers categories.


Bayesian Networks and Influence Diagrams: A Guide to Construction and Analysis, Second Edition, provides a comprehensive guide for practitioners who wish to understand, construct, and analyze intelligent systems for decision support based on probabilistic networks. This new edition contains six new sections, in addition to fully-updated examples, tables, figures, and a revised appendix. Intended primarily for practitioners, this book does not require sophisticated mathematical skills or deep understanding of the underlying theory and methods nor does it discuss alternative technologies for reasoning under uncertainty. The theory and methods presented are illustrated through more than 140 examples, and exercises are included for the reader to check his or her level of understanding. The techniques and methods presented for knowledge elicitation, model construction and verification, modeling techniques and tricks, learning models from data, and analyses of models have all been developed and refined on the basis of numerous courses that the authors have held for practitioners worldwide.