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
On the valuation of alternatives for decision-making under uncertainty
โ Scribed by Ronald R. Yager
- Publisher
- John Wiley and Sons
- Year
- 2002
- Tongue
- English
- Weight
- 150 KB
- Volume
- 17
- Category
- Article
- ISSN
- 0884-8173
No coin nor oath required. For personal study only.
โฆ Synopsis
We focus on the problem of decision-making in the face of uncertainty. The issue of the representation of uncertain information is considered and a number of different frameworks are described: possibilistic, probabilistic, belief structures, and graded possibilistic. We suggest methodologies for decision-making in these different environments. The importance of decision attitude in the construction of decision functions is strongly emphasized.
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