The intention is to provide a Bayesian formulation of regularized local linear regression, combined with techniques for optimal bandwidth selection. This approach arises from the idea that only those covariates that are found to be relevant for the regression function should be considered by the...

We provide a generic Monte Carlo method to find the alternative of maximum expected utility in a decision analysis. We define an artificial distribution on the product space of alternatives and states, and show that the optimal alternative is the mode of the implied marginal distribution on the...

We compare four graphical techniques for representation and solution of asymmetric decision problems---decision trees, influence diagrams, valuation networks, and sequential decision diagrams. We solve a modified version of Covaliu and Oliver's Reactor problem using each of the four techniques....

Since their introduction in the mid 1970s, influence diagrams have become a de facto standard for representing Bayesian decision problems. The need to represent complex problems has led to extensions of the influence diagram methodology designed to increase the ability to represent complex...