Professor Emeritus
Department of Industrial Engineering and Management
Sciences
Northwestern University
Gordon Hazen is professor of
Industrial Engineering and Management Sciences at Northwestern University. His
research interests include decision analysis methodology, utility and
preference theory, medical decision analysis, cost-effectiveness analysis of
medical treatment decisions. He has published in leading journals including Management
Science, Operations Research, The Journal of the Operational Research
Society, Medical Decision Making, The Journal of the American Medical
Association, The Journal of Risk and Uncertainty. He has served as Area
Editor for decision analysis at Operations Research, and is a member of
the editorial board of the INFORMS journal Decision
Analysis.
Representative publications
GB Hazen and CA Magni. Average internal rate of return for risky projects (2021). The Engineering Economist, 66(2), 90-120.
E Borgonovo, GB. Hazen, Victor Richmond R. Jose, E Plischke (2021). Probabilistic sensitivity measures as information value. European Journal of Operational Research 289 (2021), 595-610.
G.B. Hazen, "Sensitivity Analysis via Information Density", Decision Analysis Today 33 (2014), 1 (May), 24-29.
G.B. Hazen, Probability: An Introduction with Applications, 602 pages.
G.B. Hazen and Zhe Li, "Cohort Decomposition for Markov Cost-Effectiveness Models", Med Decis Making 31 (2011) 1 (January/February) 19-34.
G.B. Hazen (2009), "An Extension of the Internal Rate of Return to Stochastic Cash Flows", Management Science 55 (6) 1030-1034.
G.B. Hazen and A. Schwartz (2009), "Incorporating Extrinsic Goals into Decision and Cost-Effectiveness Analyses", Medical Decision Making 29 (5) 580-589.
G.B. Hazen (2007), "Adding Extrinsic Goals to the QALY Model", Decision Analysis 4 (1) 3-16.
G.B. Hazen and Min Huang (2006), "Parametric Sensitivity Analysis Using Large-Sample Approximate Bayesian Posterior Distributions",. Decision Analysis 3 (4) 208-219.
G.B. Hazen and Min Huang (2006), "Large-Sample Bayesian Posterior Distributions for Probabilistic Sensitivity Analysis", Medical Decision Making 26 (5), 512-534.
G.B. Hazen (2004), "Multiattribute
Structure for QALYs", Decision Analysis 1 (4), 205-216.
J.C. Felli and G.B. Hazen (2004), "Javelin Diagrams: A Graphical Tool
for Probabilistic Sensitivity Analysis", Decision Analysis 1
(2), 93-107.
G.B. Hazen
(2003), "A New Perspective on Multiple
Internal Rates of Return", The Engineering Economist 48, 31-51.
G.B. Hazen
(2002) "Stochastic
Trees and the StoTree Modeling Environment: Models and Software for Medical
Decision Analysis", Journal of Medical Systems 26,
399-413.
G.B. Hazen (2000), "Preference Factoring for Stochastic Trees", Management Science 46, 389-403.
G.B. Hazen and J. Sounderpandian (1999), "Lottery Acquisition versus Information Acquisition: Prices and Preference Reversals" Journal of Risk and Uncertainty 18, 125-136.
J.C. Felli and G.B. Hazen, "Sensitivity Analysis and the Expected Value of Perfect Information", Medical Decision Making 18 (1998) 95-109.
Erratum Medical Decision Making 21 (2001) 254.
Erratum Medical Decision Making 23 (2003) 97.
G.B. Hazen and J.M. Pellissier, "Recursive Utility for Stochastic Trees", Operations Research 44 (1996) 788-809.
R.W. Chang, J.M. Pellissier and G.B. Hazen, "A Cost-Effectiveness Analysis of Total Hip Arthroplasty for Osteoarthritis of the Hip", Journal of the American Medical Association 275 (1996) 858-865.
G.B. Hazen, "Factored Stochastic Trees: A Tool for Solving Complex Temporal Medical Decision Models," Medical Decision Making. 13 (1993), 227-236.
G.B. Hazen, "Stochastic Trees: A New Technique for Temporal Medical Decision Modeling," Medical Decision Making 12 (1992) 163-178.
Software
Stochastic trees and the StoTree modeling software
StoTree is software tool for the formulation
and solution of continuous-time Markov models of medical interventions,
implemented in the Excel spreadsheet environment. Although the popular package TreeAge from TreeAge Software Inc. has a more extensive set of tools, StoTree is a free alternative that can
handle the same types of models in a continuous-time framework. Like Precision Tree from Palisade
Corporation, StoTree is an Excel
addin that can implement both decision trees and Markov models.
You can watch an introductory
video about StoTree and its capabilities here.
You can obtain
a free version of this software and its documentation.
Pedagogical
Material
Probability, an Introduction with Applications
This text has been used for over a decade in the introductory probability course IE 202 at Northwestern, and is now available in electronic form. See here for a summary of the unique features of the text.
Writing Effective
Project Reports
This document presents
strategies you can use to write an effective project report, and prescribes an
organizational structure for writing such a report. Four fundamental objectives
for writing an effective project report are cited, namely, demonstrate your
familiarity with the problem, establish your modeling expertise, maximize
reader insight, and minimize reader effort. Writing strategies and
organizational structure are meant to secure these objectives.
An electronic
version is available.
Personal Items
A Verdict on Josh McDowell
Josh McDowell's book Evidence
That Demands a Verdict has been described as an authoritative defense of
Christianity and a masterpiece of Christian apologetics that provides
scholarly, intelligent, well-grounded answers to questions about the Christian
faith. Here I report on my investigation of McDowell's claims.
Last updated August 2021