History matching through dynamic decision-making

History matching through dynamic decision-making

History matching is the process of modifying the uncertain attributes of a reservoir model to reproduce the real reservoir performance. It is a classical reservoir engineering problem and plays an important role in reservoir management since the resulting models are used to support decisions in other tasks such as economic analysis and production strategy. This work introduces a dynamic decisio...

Optimal decision making and matching are tied through diminishing returns.

How individuals make decisions has been a matter of long-standing debate among economists and researchers in the life sciences. In economics, subjects are viewed as optimal decision makers who maximize their overall reward income. This framework has been widely influential, but requires a complete knowledge of the reward contingencies associated with a given choice situation. Psychologists and ...

Dynamic Decision Making 1 108 Dynamic Decision Making

This section reviews a specialty within the field of decision-making known as dynamic decision-making. Dynamic decisions are characterized by a decision-maker choosing among various actions at different points in time in order to control and optimize performance of a dynamic stochastic system. Realistic examples include fighting fires, navigational control, battlefield decisions, medical emerge...

Computational modeling of dynamic decision making using connectionist networks

In this research connectionist modeling of decision making has been presented. Important areas for decision making in the brain are thalamus, prefrontal cortex and Amygdala. Connectionist modeling with 3 parts representative for these 3 areas is made based the result of Iowa Gambling Task. In many researches Iowa Gambling Task is used to study emotional decision making. In these kind of decisio...

Dynamic Bayesian Decision - Making :