Intuitive User Experience
The user experience of Rational Will is intuitive enough so that you won't feel lost. You can intuitively guess the correct way to achieve what you want to model.
An integrated Decision Analysis software featured with Decision Tree, Analytic Hierarchy Process, Decision Matrix, Markov Decision Process and more.
Make rational decisions, and never regret a decision again.
Free Live training (Zoom or Teams, whatever you prefer)
If you need, we will book a live one-hour one-to-one training session for you, demonstrating the various features of this software. We will walk thru the user interface and show you how to model a problem that you are concerned about.
Policy path in a rich Decision Tree
Based on your attitude towards risk, get a policy from a Decision Tree and know what action to take in what situation; Always have your plan-B ready before jumping to an action; Use multi-criteria attributes for Pay off. Use advanced utility functions, various metric analysis like Stochastic Dominance, Value at Risk, etc. Super intuitive GUI, so no need to spend time learning through documentation, rather jump-start using the rich User Interface.
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Monte Carlo Simulation
When you have a probability distribution, Monte Carlo Simulation is performed automatically without asking you anything to configure. Whenever you have uncertainty, the Risk Profile chart is generated for you to visualize the complete possibilities of uncertain events and realize what can go wrong. Get prepared accordingly.
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Sensitivity Analysis
It is not worth trying to make everything perfect. Rather focus on and optimize the factors that matter most. Thru an exhaustive Sensitivity Analysis, see, how significantly your decision can change by changing a factor in your context. (What-If Analysis)
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Risk Analysis
Realize the risks in any action you take. Observe a plethora of risk metric charts including Value at Risk, Entropy, Baumol's Risk measure, Domar and Musgrave Risk Index, Roy's safety first rule, Shortfall VaR, Variance, Standard Deviation, etc.
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Analytic Hierarchy Process
Try the analytic hierarchy process feature, and you will be amazed. The advanced guided wizard user interface is offered to model the Analytic Hierarchy Process. Rational Will® uses Eigenvalues and eigenvectors for calculating priorities from Pairwise Comparisons.
By enforcing the Transitivity Rule, save time and free yourself from doing misjudgment.
The number of pairwise comparisons increases very quickly when the number of criteria increases. And you know how time-consuming it is. In Rational Will®, by enforcing the transitivity rule, not only you can make sure that you do not make any mistake in your judgments, but also you can dramatically reduce the number of pairwise comparison from ½ * N * (N - 1) to simply N -1.
Multi-Criteria / Multi-Objective decision analysis
You can set payoff for an action or an uncertain event with Multiple-criteria Utilities. Rational Will® objectives can encapsulate rich information for a payoff with multiple criteria. For example, some attributes can be Boolean Type (yes/no or true/false); some of them can be a Subjective type, Number type, or Categorical. Monetary type objectives can be used to calculate Net Present Value using an interest rate.
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Rich math expression editor for Multi-Criteria Utility Function and Monte Carlo Simulation
Drag and drop criteria to the expression editor, and use a mathematical operator and built-in functions to form your custom expression. You will love this editor when you will need to perform a Monte Carlo simulation of your Random Function.
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Extensive modeling of a Utility function
Rational Will® has extensive coverage on Von Neumann–Morgenstern Utility Theorem. Model your Utility function as many ways as possible using our rich visual drag and move chart editor. You can directly use the Exponential Utility Function, or Bernoulli Utility Function as well. Finally, use custom expressions if any of the built-in models won't suit your taste.
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Consistency Ratio - get feedback on how consistent you are.
The consistency ratio is also calculated and displayed in a pairwise comparison view. The higher the number is, the more inconsistent you are.
Stochastic Dominance: (Up to the 3rd order).
When you compare random variables, Stochastic Dominance measures should be considered to rank the variables. Rational Will® can calculate Stochastic Dominance up to the 3rd Order. Whenever a model contains uncertainty, the stochastic dominance is calculated in the Result Panel.
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Incorporate your attitude
The Rational Will® computes a strategy based on your attitude. If you acknowledge as a realist rational person, the Von Neumann–Morgenstern utility theorem - Maximize Expected Utility approach will be used. If you are a very pessimistic person who wants to avoid all kinds of risks, you can choose the LexiMin approach. If you regret opportunities, then the Minimax Regret approach is available for you. Hurwicz’s Optimism Pessimism rule is also available along with various customizations.
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Bayesian Inference - update your beliefs by Experimentation.
Whenever you model uncertainty, you can update your beliefs based on experimentation and observations. A built-in Bayesian Inference tool called Diachronic Interpretation is ready for you to help you elicit the probabilities whenever you need it.
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A bundle of many of our software
You may notice that we offer some stand-alone decision analysis software, like Decision Tree Analyzer, Markov Decision Process, Analytic Hierarchy Process, etc. If you get Rational Will®, then you will get all of them into a single software, which is definitely a streamlined user experience. You won't have to get them separately anymore.
Supported Operating Systems
This software is made for Windows machines. Any windows operating system that has Microsoft .NET Framework 4.5 or higher, you can install this software. If you are a Mac user, you can still use this software on your Mac OS using software like Parallels Desktop.
Our Clients about us
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Alexandre Soares Sarto
Student, IPT - Instituto de Pesquisas Tecnológicas
First of all, this software (Rational Will) has lots of good resources and documentation. It helped me to finish my master's degree. It comes with good support and that is so useful, especially when I needed to deal with something very important as a master's course.
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Arthur Worlobah
Student, Northcentral University
The software has a great user interface and easy to use. I will be using this software for my research in decision making in healthcare.