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A BAYESIAN APPROACH TO PLANT‐LOCATION DECISIONS *
Author(s) -
Carroll Thomas M.,
Dean Robert D.
Publication year - 1980
Publication title -
decision sciences
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.238
H-Index - 108
eISSN - 1540-5915
pISSN - 0011-7315
DOI - 10.1111/j.1540-5915.1980.tb01126.x
Subject(s) - satisficing , bayesian probability , computer science , hierarchy , context (archaeology) , operations research , data mining , artificial intelligence , mathematics , geography , economics , archaeology , market economy
The paper addresses the problem of plant location in the formal context of decision making under uncertainty and presents a framework employing Bayesian analysis in the collection and assessment of information. As a general model, the Bayesian approach is shown to subsume two practical approaches common to plant‐location literature: satisficing and spatial hierarchy of plant‐site characteristics.