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Jim Dyer

Professor

Department:     Information, Risk & Operations Management

Industry Areas:     Electric Utilities, Energy

Research Areas:     Decision Theory, Risk Management

James Jim Dyer headshot

Dyer, James S., Department of Information, Risk, and Operations Management,
The Fondren Foundation Centennial Chair in Business. James Dyer
received his B.A. and Ph.D. from The University of Texas at Austin.
His research and teaching interests include risk management, multiple
criteria decision making, and capital budgeting.

ACADEMIC LEADERSHIP & AWARDS

2006

Edgeworth-Pareto Award for Lifetime Achievement, The Multiple Criterion Decision-Making Society

2006

INFORMS Fellow

2004

Finalist, Franz Edelman Award Competition

 

2002

Ramsey Award, Decision Analysis Section of INFORMS

Publications

James E. Smith; James S. Dyer. On (Measurable) Multiattribute Value Functions: An Expository Argument. Decision Analysis. Dec2021, Vol. 18 Issue 4, p247-256.

Jim S. Dyer and James E. Smith. 2021. Innovations in the Science and Practice of Decision Analysis: The Role of Management Science. Management Science 67(9), 5364-5378.

 

Seiji Harikae, Jim S. Dyer, and Tianyang Wang. 2021. Valuing Real Options in the Volatile Real World. Production and Operations Management 30(1), 171-189.

 

Saurabh Bansal and Jim S. Dyer. 2020. Planning for End-User Substitution in Agribusiness. Operations Research 68(4), 1000-1019.

 

Ying He, Jim S. Dyer, John C. Butler, and Jianmin Jia. 2019. An Additive Model of Decision Making Under Risk and Ambiguity. Journal of Mathematical Economics 85, 78-92.

 

Warren J Hahn, James A. Dilellio, and Jim S. Dyer. 2018. Risk Premia in Commodity Price Forecasts and Their Impact on Valuation. Energy Economics 72, 393-403.

 

Luiz E. Brandao, Glaucia Fernandes, and Jim S. Dyer. 2018. Valuing Multistage Investment Projects in the Pharmaceutical Industry. European Journal of Operational Research 271(2), 720-32.

 

Joshua D. Rhodes, Carey King, Gurcan Gulen, Sheila M. Olmstead, Jim S. Dyer, and et al. 2017. A Geographically Resolved Method to Estimate Levelized Power Plant Costs wtih Environmental Externalities. Energy Policy 102, 491-499.

 

Saurabh Bansal and Jim S. Dyer. 2017. Technical Note-Multivariate Partial-Expectation Results for Exact Solutions of Two-Stage Problems. Operations Research 65(6), 1526-1534.

 

Jim S. Dyer and John C. Butler. 2016. Modeling Correlated Discrete Uncertainties in Event Trees with Copulas. Risk Analysis: An International Journal 36(2), 396-410.

 

Ying He, Jim S. Dyer, and John C. Butler. 2014. Decomposing a Utility Function Based on Discrete Distribution Independence. Decision Analysis11(4), 233-249.

 

Saurabh Bansal and Jim S. Dyer. 2014. Updating Inventories of Substitutable Resources in Response to Forecast Updates. Production and Operations Management 23(3), 477-488.

 

Warren J Hahn, James A. DiLellio, and Jim S. Dyer. 2014. What Do Market-Calibrated Stochastic Processes Indicate About the Long-Term Price of Crude Oil? Energy Economics 44, 212-221.

 

Ying He, Jim S. Dyer, and John C. Butler. 2013. On the Axiomatization of the Satiation and Habit Formation Utility Models. Operations Research61(6), 1399-1410.

 

Tianyang Wang and Jim S. Dyer. 2012. A Copulas-Based Approach to Modeling Dependence in Decision Trees. Operations Research 60(1), 225-242.

 

Luiz E. Brandao, Jim S. Dyer, and Warren J. Hahn. 2012. Volatility Estimation for Stochastic Project Value Models. European Journal of Operational Research 220(3), 642-648.

 

Jim S. Dyer and W. Hahn. 2011. A Discrete Time Approach for Modeling Two-Factor Mean-Reverting Stochastic Processes. Decision Analysis8(3), 220-232.

 

Burcu Tan, Edward G. Anderson, Jim S. Dyer, and Geoffrey Parker. 2010. Evaluating System Dynamics Models of Risky Projects Using Decision Trees: Alternative Energy Projects as an Illustrative Example. System Dynamics Review 26(1), 1-17.

 

Warren J. Hahn, Luiz E. Brandao, and Jim S. Dyer. 2010. Real Options: The Value Added through Optimal Decision Making. Graziadio Business Report 13(2), 1-8.

 

T. Wang and Jim S. Dyer. 2010. Valuing Multi-factor Real Options Using an Implied Binomial Tree. Decision Analysis 7(2), 185-195.

 

Leslie T. Maiman Jr., John C. Butler, Leon S. Lasdon, and Jim S. Dyer. 2009. Long-Range Planning for a West Texas Catholic Diocese. Interfaces 39, 133-144.

 

Warren J. Hahn and Jim S. Dyer. 2008. Discrete time modeling of mean-reverting stochastic processes for real option valuation. European Journal for Operational Research 184(2), 534-548.

 

Jyrki Wallenius and Jim S. Dyer. 2008. Multiple Criteria Decision Making, Multiattribute Utility Theory: Recent Accomplishments and What Lies Ahead. Management Science 54(7), 1336-1349.

 

John C. Butler, Jim S. Dyer, and Jianmin Jia. 2006. Using Attributes to Predict Objectives in Preference Models. Decision Analysis 3(2), 100-116.

 

John C. Butler, Jim S. Dyer, and J. Jia. 2005. An Empirical Evaluation of the Assumptions of Risk-Value Models. Journal of Risk and Uncertainty30(2), 133-156.

 

Jim S. Dyer. 2005. MAUT-Multiattribute Utility Theory, in Multiple Criteria Decision Analsyis: State of the Art Surveys, J. Figueira, S. Greco, and M. Ehrgott, eds. Kluwer Academic Publishers.

 

Brandão, Luiz E, Jim S. Dyer, and Hahn, Warren J. 2005. Response to Comments on Brandão et al. (2005). Decision Analysis 2, 103-109.

 

John C. Butler, A. N. Chebeskov, Jim S. Dyer, T. Edmunds, J. Jia, and V. I. Oussanov. 2005. The United States and Russia Evaluate Plutonium Disposition Options with Multiattribute Utility Theory. Interfaces 35(1), 88-101.

 

Brandão, Luiz E., Jim S. Dyer, and Hahn, Warren J.. 2005. Using Binomial Decision Trees to Solve Real-Option Valuation Problems. Decision Analysis 2, 69-88.

 

John C. Butler, Jim S. Dyer, J. Jia, and Kerem Tomak. 2003. Enabling E-Transactions with Multi-Attribute Preference Models, in State of the Art of Multiple Criteria Decision Analysis, J. Figueira, S. Greco, and M. Ehrgott, eds. Kluwer Academic Publishers.

 

J. Jia, Jim S. Dyer, and John C. Butler. 2001. Generalized Disappointment Models. Journal of Risk and Uncertainty 22, 59-78.

 

J. Jia, Jim S. Dyer, and John C. Butler. 1999. Measures of Perceived Risk. Management Science 45, 519-532.

 

John C. Butler and Jim S. Dyer. 1999. Optimizing Natural Gas Flows with Linear Programming. Decision Sciences 30, 563-580.

 

D. Clyman, M. Walls, and Jim S. Dyer. 1999. Too Much of a Good Thing. Operations Research 47, 957-965.

 

Jim S. Dyer, John C. Butler, T. Edmunds, and J. Jia. 1998. A Multivariate Utility Analysis of the Alternatives for the Disposition of Surplus Weapons-grade plutonium. Operations Research 46, 749-762.

 

J. Jia, G.W. Fischer, and Jim S. Dyer. 1998. Evaluating Multi-attribute Decision Quality: A Simulation Study. Journal of Behavioral Decision Making11, 85-105.

 

Jim S. Dyer and J. Jia. 1998. Preference Conditions for Utility Models: A Risk-Value Perspective. Annals of Operations Research 80.

 

J.J. Inman, Jim S. Dyer, and J. Jia. 1997. A Generalized Utility Model of Disappointment and Regret Effects on Post-Choice Valuation. Marketing Science 16, 97-111.

 

Jim S. Dyer and J.Jia. 1997. Relative Risk-Value Models. European Journal of Operational Research 103, 170-185.

 

John C. Butler, J. Jia, and Jim S. Dyer. 1997. Simulation Techniques for the Sensitivity Analysis on Multi-Criteria Decision Models. European Journal of Operational Research 103, 531-546.

 

J. Jia and Jim S. Dyer. 1996. A Standard Measure of Risk and Risk-Value Models. Management Science 42, 1691-1705.

 

Jim S. Dyer and J. Jia. 1996. Preference Theory, in Encyclopedia of Operations Research and Management Science, S. Gass and C. Harris, eds. Kluwer Academic Publishers.

 

M.R. Walls and Jim S. Dyer. 1996. Risk Propensity and Firm Performance: A Study of the Petroleum Exploration Industry. Management Science42, 1004-1021.

 

Jim S. Dyer and Jay C. Hartzell. 1996. The Internet and Nonbank Competition. Payment Systems Worldwide 7, 8-10.

 

M.R. Walls, Jim S. Dyer, and T. Morahan. 1995. Decision Analysis of Exploration Opportunities in the Onshore U.S. at Phillips Petroleum Company. Interfaces 25, 39-56.

 

J. Jia, Jim S. Dyer, and Y. Guo. 1995. Decision Making Under Risk: A Mean-Risk Approach and Portfolio Selection, in Optimization Techniques and Applications, G. Liu et al. ed. Singapore: World Scientific Publishing.

 

M.K. Wright, L. Stokes, and Jim S. Dyer. 1994. Reliability and Coherence of Causal, Diagnostic, and Joint Subjective Probabilities. Decision Sciences 25, 691-709.

 

Jim S. Dyer, J.C. Bean, L.S. Dewald, A.H. Gepfert, and A. Odoni. 1993. Suggestions for an MS/OR Master's Degree Curriculum. OR/MS Today 20.

 

Robert Bowker, Jim S. Dyer, Kingshuk K. Sinha, and James A. Fitzsimmons. 1992. A Strategic Planning Model for Oilfield Service and Supply Companies. International Journal of Production Economics 27, 221-231.

 

J.B. Larsen and Jim S. Dyer. 1992. Dynamic Control of Operating Systems, in Perspectives on Operations Management, R.K. Sarin, ed. Norwell, Massachusetts: Kluwer Academic Publishers.

 

Jim S. Dyer, P.C. Fishburn, R.E. Steuer, J. Wallenius, and S. Zionts. 1992. Multiple Criteria Decision Making, Multiattribute Theory: The Next Ten Years. Management Science 38, 645-654.

 

Robert W. Bowker, Jim S. Dyer, Peter Fazziola, and Kingshuk K. Sinha. 1991. A Strategic Planning Model for Oil Field Dependent Companies, in Proceedings of the National DSI Conference,

 

Jim S. Dyer and M.K. Wright. 1991. Probabilistic Causal Reasoning in Decision Support Systems, in Proceedings of the N.A.T.O. Advanced Study Institute on Recent Developments in Decision Support Systems,

 

Jim S. Dyer. 1990. A Clarification of Remarks on the Analytic Hierarchy Process. Management Science 36, 249-258.

 

Jim S. Dyer, R. Lund, J. Larsen, V. Kumar, and R. Leone. 1990. A Manpower Allocation Model for Prioritizing Oil and Gas Exploration. Operations Research 38, 386-396.

 

Jim S. Dyer. 1990. Decision Analysis in Contemporary Organizations: Comments and Conclusions, in Organization and Decision Theory, I. Horowitz, ed. Norwell, Massachusetts: Kluwer Academic Publishers.

 

Jim S. Dyer. 1990. Remarks on the Analytic Hierarchy Process. Management Science 36, 249-258.

 

Jim S. Dyer. 1989. The Effects of Risk on Decision Making, in Multiple Criteria Decision Making and Risk Analysis Using Microcomputers, S. Zionts and B. Karpak, eds. New York: Springer-Verlag.

 

H.V. Ravinder, D.N. Kleinmuntz, and Jim S. Dyer. 1988. The Reliability of Subjective Probablility Assessments Obtained Through Decomposition. Management Science 34, 186-199.

 

Jim S. Dyer and H.V. Ravinder. 1986. A Rationale for the Decomposition of a Hierarchy of Objectives, in Proceedings of the VII-th International Conference on Multiple Criteria Decision Making,

 

Jim S. Dyer and R.K. Sarin. 1986. Measuring Risk Attitudes in Risk Analysis, in Risk Evaluation and Management, V. Covello, J. Menkes, and J. Mumpower, eds. Plenum Press.

 

Jim S. Dyer. 1985. An Asbestos Hazard Index for Managing Friable Asbestos Insulating Material, in Environmental Impact Assessment, Technology Assessment, and Risk Analysis, V. Covello, J. Mumpower, P. Stallen, and V. Uppuluri, eds. Springer-Verlag.

 

Jim S. Dyer and J. Larsen. 1985. Using Multiple Objectives to Approximate Normative Models, in Normative Models in Economic Theory, Thrall and Thompson, eds.

 

Jim S. Dyer and W. Lorber. 1982. An Application of Measurable Multiattribute Value Functions to the Evaluation of Program Planning Contractors. OMEGA 10, 673-678.

 

Jim S. Dyer and R. Shapiro. 1982. Management Science/Operations Research: Cases and Readings. John Wiley, Inc.

 

Jim S. Dyer and R. Sarin. 1982. Relative Risk Aversion. Management Science 28, 875-886.

 

Jim S. Dyer and J.M. Mulvey. 1982. The Design of Integrated Optimization/Information Systems for Decision Support, in Building Decision Support System, J.L. Bennet, ed. Addison-Wesley.

 

Jim S. Dyer and R.N. Lund. 1982. Tinker Toys and Christmas Trees: Opening a New Merchandising Package for Amoco Oil Company. Interfaces12, 38-52.

 

E.S. Buffa and Jim S. Dyer. 1981. Management Science/Operations Research: Model Formulations and Solutions Methods. Wiley/Hamilton Press.

 

Jim S. Dyer and R.K. Sarin. 1981. Multicriteria Decision Making: An Expository Survey, in Encyclopedia of Computer Science and Technology, J. Belzer, A.G. Holzman, and A. Kent, eds. Marcel Dekker, Inc.

 

Jim S. Dyer and E. Lorey. 1981. Risk Estimation, in Management Procedure for Assessment of Friable Asbestos Insulating Material, Washington, D.C.: Office of the Chief of Naval Operations, Department of the Navy.

 

Jim S. Dyer and R. Sarin. 1979. Group Preference Aggregate Rules Based on Strength of Preference. Management Science 25, 822-832.

 

Jim S. Dyer and R. Sarin. 1979. Measurable Multiattribute Value Functions. Operations Research 27, 810-822.

 

Jim S. Dyer, R.A. Millen, and J.J. Morse. 1978. A Framework for the Study of Work Settings. Management Science 24, 1393-1403.

 

Jim S. Dyer and R. Sarin. 1978. A Note on the Relationship Between Additive Conjoint and Difference Measurement. Journal of Mathematical Psychology 18, 270-272.

 

Jim S. Dyer and R.F. Miles. 1978. Alternative Formulations for a Trajectory Selection Problem for the Mariner Jupiter/Saturn 1977 Project, in Conflicting Objectives, D.A. Bell, R.L. Keeney, and H. Raiffa, eds. John Wiley, Inc.

 

Jim S. Dyer and R.K. Sarin. 1978. Cardinal Preference Aggregation Rules for the Case of Certainty, in Multiple Criteria Problem Solving: Theory, Methodology, and Practice, S. Zionts, ed. Springer-Verlag.

 

E. Buffa and Jim S. Dyer. 1978. Essentials of Management Science/Operations Research. Wiley/Hamilton Press.

 

Jim S. Dyer. 1977. Comments on the Disaggregation Problem in Higher Education, in The Problems of Disaggregation in Manufacturing and Service Organizations: Conference Proceedings,

 

Jim S. Dyer and J.M. Mulvey. 1977. Computerized Scheduling and Planning. New Directions for Institutional Research, Special Issue on Applying Analytic Methods to Planning and Management 13, 67-86.

 

E.S. Buffa and Jim S. Dyer. 1977. Managerial Use of Dynamic Structural Models. Decision Sciences 8, 73-94.

 

Jim S. Dyer and R.F. Miles. 1976. An Actual Application of Collective Choice Theory to the Selection of Trajectories for the Mariner Jupiter/Saturn 1977 Project. Operations Research 24, 220-224.

 

Jim S. Dyer and J.M. Mulvey. 1976. An Integrated Optimization/Information System for Academic Departmental Planning. Management Science 22, 1332-1341.

 

J. Bonnardeaux, J. Dolait, and Jim S. Dyer. 1976. The Use of the Nash Bargaining Model in Trajectory Selection. Management Science 22, 766-777.

 

Jim S. Dyer and M. Hoffenberg. 1975. Evaluating the Quality of Working Life: Some Reflections on Production and Cost and a Method for Problem Definition, in Quality of Working Life: Problems, Prospects and State of Art, L.E. Davis and A.B. Cherns, eds. New York, New York: Free Press.

 

Jim S. Dyer. 1974. Academic Resource Allocation Models at UCLA, in Decision Models in Academic Administration, A.C. Heinlein, ed. Kent State University Press.

 

Jim S. Dyer. 1974. The Effects of Errors in the Estimation of the Gradient on the Frank-Wolfe Algorithm, with Implications for Interactive Programming. Operations Research 22, 160-174.

 

Jim S. Dyer. 1973. A Procedure for Selecting Educational Goals Areas for Emphasis. Operations Research 21, 835-845.

 

Jim S. Dyer. 1973. A Time-Sharing Computer Program for the Solution of the Multiple Criteria Problem. Management Science 19, 1379-1383.

 

Jim S. Dyer. 1973. An Empirical Investigation of a Man-Machine Interactive Approach to the Solution of the Multiple Criteria Problem, in Multiple Criteria Decision Making, J.L. Cochrane and M.Zeleney, eds. University of South Carolina Press.

 

Jim S. Dyer, W. Farrel, and P. Bradley. 1973. Utility Functions for Test Performance. Management Science 19, 507-519.

 

A. Geoffrion, Jim S. Dyer, and A. Feinberg. 1972. An Interactive Approach for Multi-Criterion Optimization with an Application to the Operation of an Academic Department. Management Science 18, 357-368.

 

Jim S. Dyer. 1972. Interactive Approaches for Multiple Criteria Decision Problems, in Proceedings of the Computer Science and Statistics Sixth Annual Symposium on the Interface,

 

Jim S. Dyer. 1971. Assessing the Effects of Changes in the Cost of Higher Education to Students. Socio-Economic Planning Sciences, 307-316.

 

J. Burt and Jim S. Dyer. 1971. Estimation of Travel Times in Multiple Mode Systems. Operational Research Quarterly 22, 155-163.

 

Jim S. Dyer. 1971. Interactive Goal Programming. Management Science 17, 62-70.

 

Jim S. Dyer and F. Glover. 1970. A Barge Scheduling Heuristic. Transportation Science 3, 281-292.

 

Jim S. Dyer. 1970. The Use of PPBS in a Public System of Higher Education: Is it Cost-effective? Academy of Management Journal 13, 285-299.