MARINE DECISIONS UNDER UNCERTAINTY

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

• TRT Terms: Capital investments; Chartering; Risk analysis; Ships; Vehicle maintenance
• Uncontrolled Terms: Ship maintenance
• Subject Areas: Administration and Management; Maintenance and Preservation; Marine Transportation; Vehicles and Equipment;

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