TITLE:
Probability Elicitation in Influence Diagram Modeling by Using Interval Probability
AUTHORS:
Xiaoxuan Hu, He Luo, Chao Fu
KEYWORDS:
Influence Diagram; Probability Elicitation; Interval Probability; Decision Making
JOURNAL NAME:
International Journal of Intelligence Science,
Vol.2 No.4,
October
30,
2012
ABSTRACT: In decision modeling with influence diagrams, the most challenging task is probability elicitation from domain experts. It is usually very difficult for experts to directly assign precise probabilities to chance nodes. In this paper, we propose an approach to elicit probability effectively by using the concept of interval probability (IP). During the elicitation process, a group of experts assign intervals to probabilities instead of assigning exact values. Then the intervals are combined and converted into the point valued probabilities. The detailed steps of the elicitation process are given and illustrated by constructing the influence diagram for employee recruitment decision for a China’s IT Company. The proposed approach provides a convenient and comfortable way for experts to assess probabilities. It is useful in influence diagrams modeling as well as in other subjective probability elicitation situations.