In the framework phase, he structures and elements of the decision problem
are defined: experts, criteria, etc.
Step 1: AHP decomposes a complex decision problem
into several sub-problems forming a hierarchy.
The book also mentions that 'the best place to start thinking about a decision problem
is with values.
Many researchers used other diverse methods of MCDM to solve the decision problem
Therefore, the multiple attribute decision making problems are more complicated than the single attribute decision problem
(Sun et al.
We study the decision problem
of the optimal choice between home equity release products from a retired homeowner's perspective in the presence of longevity, long-term care, house price, and interest rate risk.
Hence, the choice of the MCDM method is based, firstly, on the structure of decision problem
considered, secondly, on the types of data that can be obtained, and, finally, on the capability to get accurate results.
Reference  considers joint pricing and inventory replenishment decision problem
over an infinite horizon where sequentially arriving customers are forward-looking to the price of a product sold by a seller.
The term strategy seems to more aptly describe a behavioral plan for solving or deferring a career decision problem
Mapping the question to the definition requires a careful discussion of units and measurement, as well as the relationship between opportunity cost and the economic decision problem
According to this author, the search for a good decision needs to involve an efficient characterization of the alternatives related to the decision problem
, its consequences, preferences of agents related to the problem and, in uncertain conditions, a complete description of the risks (Howard, 1988; Howard, 2004).
Data becomes information, when it becomes relevant to a decision problem