ABSTRACT
The decision-making process involves a series of steps: identifying the problem, constructing the preferences, evaluating the alternatives, and determining the best alternative (Simon, 1977; Keeney and Raiffa, 1993; Kleindorfer et al., 1993). Generally speaking, three kinds of formal analysis can be employed to solve decision-making problems (Bell et al., 1988; Kleindorfer et al., 1993): (1) descriptive analysis focuses on the problems that decision makers actually face; (2) prescriptive analysis considers the methods used by decision makers to improve their decisions; and (3) normative analysis is concerned with the ideal resolution of problems.
