Decision makers have long relied on experts to inform their decision making. Expert judgment analysis is a way to elicit and combine the opinions of a group of experts to facilitate decision making. The use of expert judgment is most appropriate when there is a lack of data for obtaining reasonable statistical results. The experts are asked for advice by one or more decision makers who face a specific real decision problem. The decision makers are outside the group of experts and are jointly responsible and accountable for the decision and committed to finding solutions that everyone can live with. The emphasis is on the decision makers learning from the experts. The focus of this thesis is an overview and comparison of the various elicitation and combination methods available. These include the traditional committee method, the Delphi method, the paired comparisons method, the negative exponential model, Cooke’s classical model, the histogram technique, using the Dirichlet distribution in the case of a set of uncertain proportions which must sum to one, and the employment of overfitting. The supra Bayes approach, the determination of weights for the experts, and combining the opinions of experts where each opinion is associated with a confidence level that represents the expert’s conviction of his own judgment are also considered.
| Identifer | oai:union.ndltd.org:netd.ac.za/oai:union.ndltd.org:rhodes/vital:5579 |
| Date | January 2015 |
| Creators | Chinyamakobvu, Mutsa Carole |
| Publisher | Rhodes University, Faculty of Science, Statistics |
| Source Sets | South African National ETD Portal |
| Language | English |
| Detected Language | English |
| Type | Thesis, Masters, MSc |
| Format | 60 p., pdf |
| Rights | Chinyamakobvu, Mutsa Carole |
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