On the Choice of Baselines in Multiattribute Portfolio Analysis: A Cautionary Note.

Robert T. Clemen is Professor of Decision Sciences at Duke University’s Fuqua School of Business. He has broad interests in the use of decision analysis for organizational decision making, and special interests in the psychology of judgment, assessing expert probabilities, the effectiveness of decision-making techniques, and using decision analysis to help organizations become environmentally sustainable. He has taught courses on decision making and environmental sustainability in Duke&rsq

James E. Smith is J.B. Fuqua Professor in the Decision Sciences area at the Fuqua School of Business, Duke University. Professor Smith's research interests lie primarily in the areas of decision analysis and focus on developing methods for studying dynamic decision problems and valuing risky investments. Smith was awarded the Frank P. Ramsey Medal for distinguished contributions to decision analysis in 2008.  At Duke, he teaches probability and statistics and decision modeling. <