Decision Making for Engineering Systems Design
Learning Objective:Upon completion of this course, the student should be able to:
- Frame decisions and model preferences under risk.
- Apply model-driven and data-driven decision making in engineering design.
- Critically evaluate the assumptions and limitations of design decision-making approaches.
- Formulate and execute decisions in the presence of other decision makers using game theoretic models.
- Adopt an interdisciplinary approach to design across engineering, economics, and social sciences.
Multi-objective decision making under uncertainty; multi-attribute utility theory; applications to engineering design; model-driven and data-driven decision making; Game-theoretic models with applications in engineering systems design; design for market systems; applications to sustainable design and policy.
Fall 2019 Syllabus
Topics Covered:Context (2 weeks)
- Course overview
- Role of decision making in engineering systems design
- Limitations of some popular decision making methods
- Elements of a decision problem
- Tradeoffs and decision making under certainty
- Modeling uncertainty
- Multi-attribute Utility theory
- Utility-based selection in design
- Model-driven decision making (e.g., simulation-based design)
- Data-driven decision making (e.g., demand modeling; preference models from online reviews)
- Deviations from rationality
- Descriptive decision theories from psychology
- Group preferences and aggregation of preferences
- Collective decision making
- Strategic and extensive form games
- Nash equilibrium
- Applications in engineering systems design (e.g., Design for market systems; Negotiation protocols for systems design; Open source product development; Crowdsourcing)
- Brief overview of mechanism design