15

I am looking for a free program that can:

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  • can compute the Expected Value.

If possible:


Example of non-free software:

TreePlan for Decision Trees ($59, Excel add-in):

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Edraw - Decision Tree Software

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11

Would like to point out Gambit - a collection of tools for building and solving game theory (and, by extension, decision theory) problems.

  • It has ready-made binaries for Windows and Mac OS X, and source files that can be compiled almost everywhere else with wxWidgets. One should of course beware of downloading binaries from SourceForge these days.

  • It is free, open source, licensed under GPL v.2.

  • It provides a bunch of command-line utilities and Python interface.

  • Working with the GUI requires a bit of learning (mainly because right-clicking on different parts of the tree gives different context menu popups).

  • Has been around since 1996.

A screenshot of Gambit UI

1

R is becoming a program (programing environment) for pretty much everything. You just need to find one or several of the thousands of packages that would do the job.


Concerning decision trees, there are several packages. An overview could be found here.


Download R

RStudio - (arguably) the nicest gui for R.


For inspiration

R-bloggers

R Graph Catalog

1

I'm partial to SolutionTree (free 15 day trial). It also includes a full-featured sensitivity analysis package. It's a pure Excel add-in, too, so it's easy to use.

Decision Tree in Excel using SolutionTree add-in

1

You can check out Essy Tree (free trial). It's free online decision tree software for drawing and solving trees. You can save trees, use functions and expressions in probabilities and payoffs, and export to PDF.

I published it about 10 months ago. There isn't any documentation but it should be intuitive and please feel free to email me with questions or comments at spencer (undrscr) cherry at yahoo. Hoping to upgrade it in near future, would welcome any feedback.

Screen shot

  • 1
    Your website could use a way to try the app out without signing up. – Travis Jul 15 '15 at 0:55

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