Information Systems and Decision Analysis Laboratory

Information Systems and Decision Analysis Laboratory
205 Transportation Building
Director: Professor Ali Abbas
Everyone makes decisions but a few people think about how they do it. Psychological research has shown that people make decisions that upon close examination, they regard as wrong. Our research focuses on the theory and practice of helping people and organizations make better decisions. This includes behavioral and theoretical aspects of decision making, as well as research on the practice and teaching of decision analysis.
Recent research in our lab includes tools and applications in many areas including:
1.       Utility theory (single and multiple attributes).
2.       Probability encoding.
3.       Normative decision making in engineering design.
4.       Decision making with large datasets.
5.       Medical decision making.
6.       Information theory and maximum entropy formulations.
7.       Game theory.
8.       Dynamic programming.
9.       Auctions.
10.   Valuation and real options.
11.   Normative target-based decision making.
One of our objectives in the lab is to bring decision education to high school students and to at-risk teens. This has resulted in several programs with the Decision Education Foundation (DEF) and the Champaign County Juvenile Detention Center.