HO19-Case4-MedicalDA - MS&E 352 Handout #19 Decision...

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MS&E 352 Handout #19 Decision Analysis II February 27 th , 2009 ________________________________________________________________________ ________________________________________________________________________ 03/05/09 1 of 2 Case #4: Medical Decision Analysis Case Study #4 – Medical Decision Analysis Due Thursday, March 12 th , 2009, 11 AM The Beginning It is June 2009, you just graduated with your degree in MS&E, and you are all excited about Decision Analysis. After seeing most of your friends being lured by corporate America, you and a small group of friends decide to get into the Silicon Valley hype and start your own company. You remember that in DA1 and DA2 you studied the wonderful concept of micromorts and now want to share this (for a profit, of course) with the world at large. You aim at developing a tool that hospitals will be able to use to help their patients make well informed decisions. The Problem As you discuss this idea with your friends you realize that there are two major issues you have to resolve for this to be a success. First, you need to build a strong model, an underlying machine if you will, that will do all the analysis for you behind the scenes. This model takes in the user’s beliefs, preferences, and risk attitude as inputs. Given this information, the model should assist the user with evaluating different medical alternatives and assessing the value of medical tests. The second issue is bringing these concepts to a level that your user, who will be under stressful
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HO19-Case4-MedicalDA - MS&E 352 Handout #19 Decision...

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