Howard Raiffa. Photo by Richard A. Chase.

Carnegie Mellon University has awarded its $50,000 Dickson Prize in Science to Howard Raiffa, the Frank P. Ramsey Professor in Managerial Economics, Emeritus, a pioneer in the field of decision analysis.

Raiffa is an applied mathematician who works on complex decision problems. Through his research, teaching, and writing, he pursues ways that analysis can help individuals or groups make better decisions.

Raiffa has been a member of the Harvard faculty since 1957. The Ramsey Chair is supported by both the Business School and the Kennedy School of Government.

A pioneer in the creation of the field known as decision analysis, his research interests span statistical decision theory, game theory, behavioral decision theory, risk analysis, and negotiation analysis.

The author of 11 books, Raiffa’s newest work is Collaborative Decision Making. Another book, Smart Choices, was chosen as the Book of the Year in 1998 by the Center for Public Resources (CPR) Institute for Dispute Resolution.

Raiffa’s many honors and awards include the Distinguished Contribution Award from the Society of Risk Analysis; the Frank P. Ramsey Medal for outstanding contributions to the field of decision analysis, from the Operations Research Society of America; and the Melamed Prize from the University of Chicago Business School, for an outstanding work of scholarship titled “The Art and Science of Negotiation.” He earned a Gold Medal from the International Association for Conflict Management and a Lifetime Achievement Award from the CPR Institute for Dispute Resolution.

Carnegie Mellon presented Raiffa with an honorary degree in 1988. He also holds honorary doctorate degrees from the University of Michigan, Northwestern University, and Ben Gurion University of the Negev. Raiffa earned his bachelor’s degree in mathematics, his master’s degree in statistics, and doctorate in mathematics at the University of Michigan.

The Dickson Prize in Science was established through the philanthropy of the late Dr. Joseph Z. Dickson, a Pittsburgh physician, and Agnes Fisher Dickson, his wife. The Dickson Prize medallion and monetary prize were presented to Raiffa during a ceremony on April 4.