The risk management process is the key task of every decision maker in an organization. This risk management process should be carried out periodically to review the security of the information assets in the organization. So if this process is to be efficient, the organization should first prioritize the information assets and should employ risk management procedure to avoid potential loss. But...

As yet, no general agreement has been reached on whether the Bayesian or the frequentist (Neyman-Pearson, NP) approach to statistics is to be preferred. Whereas Bayesians adhere to coherence conditions of de Finetti, Savage, and others, frequentists do not consider these conditions normative and deliberately and knowingly violate them. Hence further arguments, bringing more clarity on the disag...

When using graphical models for decision making, a fundamental question is whether one is ready to make a decision (stopping criteria), and if not, what observations should be made to better prepare for a decision (selection criteria). In this paper, we review the notions of entropy and expected utility, which are commonly used for this purpose, and contrast them with a newly introduced notion,...

The Iowa Gambling Task (IGT) is one of the most popular experimental paradigms for comparing complex decision-making across groups. Most commonly, IGT behavior is analyzed using frequentist tests to compare performance across groups, and to compare inferred parameters of cognitive models developed for the IGT. Here, we present a Bayesian alternative based on Bayesian repeated-measures ANOVA for...

Estimation, learning, pattern recognition, diagnostics, fault detection and adaptive control are prominent examples of dynamic decision making under uncertainty. Under rather general conditions, they can be cast into a common theoretical framework labelled as Bayesian decision making. Richness of the practically developed variants stems from: (i) domain-specific models used; (ii) adopted approx...

Scientists and managers are not the only holders of knowledge regarding environmental issues: other stakeholders such as farmers or fishers do have empirical and relevant knowledge. Thus, new approaches for knowledge representation in the case of multiple knowledge sources, but still enabling reasoning, are needed. Cognitive maps and Bayesian networks constitute some useful formalisms to addres...

The diffusion model is a commonly used tool to infer latent psychological processes underlying decision-making, and to link them to neural mechanisms based on response times. Although efficient open source software has been made available to quantitatively fit the model to data, current estimation methods require an abundance of response time measurements to recover meaningful parameters, and o...