Frank P. Ramsey Medal
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Nomination Deadline: June 1, 2020
2019 Winner(s)
- Raimo P. Hämäläinen, Aalto University School of Science
Purpose of the Award
2020 Prize Chair
Jason Merrick (jrmerric@vcu.edu)
The Frank P. Ramsey medal is awarded for distinguished contributions in decision analysis. Distinguished contributions can be internal, such as theoretical or procedural advances in decision analysis, or external, such as developing or spreading decision analysis in new fields. The specific award criteria for evaluating potential Ramsey Medal recipients are a candidate's:
- Theoretical, methodological, and procedural contributions to decision analysis
- Applications of decision analysis (including new uses and in new fields)
- Other contributions promoting decision analysis (e.g. educational and public awareness)
- Exceptional contributions to the Decision Analysis Society (e.g. service to society or journal)
A potential recipient need not meet all of the criteria, but contributions to each criterion are pertinent.
For this award, decision analysis is defined as a prescriptive approach to provide insight for decision making based on axioms that are logically consistent with the axioms of von Neumann and Morgenstern and of Savage. Key constructs of decision analysis are utility to quantify one’s preferences and probability to quantify the state of one's knowledge.
There are overlapping aspects of decision analysis with other fields such as behavioral decision research, probabilistic risk analysis, and engineering and economic analyses. Behavioral decision research addressing how people make decisions that has direct implications for improving the practice of decision analysis is a contribution to decision analysis. Models of uncertain possible consequences from scientific, engineering, and economic modeling that are useful for decision analysis are contributions.
Application Process
View information about eligibility, procedures and deadlines
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About the Award/Namesake
Frank Plumpton Ramsey was the first to express an operational theory of decision-making based on the dual, intertwining notions of judgmental probability and utility. In his essay "truth and Probability" in 1926, Ramsey adopted what is now termed the decision-theoretic point of view. To Ramsey, probability was an expression of a degree of belief interpreted as operationally meaningful in terms of a willingness to act based on that belief...
Past Awardees
The Institute for Operations Research and the Management Sciences
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