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On the methods of decision making under uncertainty with probability information

โœ Scribed by Xinwang Liu

Publisher
John Wiley and Sons
Year
2004
Tongue
English
Weight
155 KB
Volume
19
Category
Article
ISSN
0884-8173

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โœฆ Synopsis

By considering the decision maker's attitude of profit and risk, we propose an alternative selection method that can include the methods of decision making under ignorance and decision making under risk as special cases. An index to measure the decision maker's risk-averse degree is proposed. With a given optimistic level of profit and risk, the evaluation results of the alternatives can be obtained with a geometric ordered weighted average (OWA) operator and a basic defuzzification distribution (BADD) neat OWA operator. Some properties of these two kinds of OWA operator in the problem of decision making under uncertainty are also proposed.

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