The objective of this monograph is to facilitate the application of Bayesian decision theory in the marine industries. The first three chapters constitute an elementary introduction to decisions under uncertainty, Bayesian decision theory and dynamic programming respectively. The remaining chapters apply these techniques to the vessel employment and investment decisions facing those decisionmakers who operate in the ship charter markets, to marine hardware maintenance and replacement decisions, and to offshore search and exploration problems.

  • Supplemental Notes:
    • Sponsored by National Sea Grant Program (N.O.A.A.)
  • Corporate Authors:

    Massachusetts Institute of Technology

    Department of Civil Engineering, 77 Massachusetts Avenue
    Cambridge, MA  United States  02139
  • Authors:
    • Devanney, J W
  • Publication Date: 1971-9

Media Info

  • Features: Figures;
  • Pagination: 224 p.

Subject/Index Terms

Filing Info

  • Accession Number: 00032244
  • Record Type: Publication
  • Source Agency: Massachusetts Institute of Technology
  • Report/Paper Numbers: MITSG-71-7
  • Contract Numbers: GH-88
  • Files: TRIS
  • Created Date: Apr 28 1972 12:00AM