Related papers: Qualitative Decision Theory with Sugeno Integrals
In medicine one frequently deals with vague information. As a tool for reasoning in this area, fuzzy logic suggests itself. In this paper we explore the applicability of the basic ideas of fuzzy set theory in the context of medical…
In line with the increasing attention paid to deal with uncertainty in ordinal data models, we propose to combine Fuzzy models with \cub models within questionnaire analysis. In particular, the focus will be on \cub models' uncertainty…
This paper formulates an utility indifference pricing model for investors trading in a discrete time financial market under non-dominated model uncertainty. The investors preferences are described by strictly increasing concave random…
Classical Decision Theory provides a normative framework for representing and reasoning about complex preferences. Straightforward application of this theory to automate decision making is difficult due to high elicitation cost. In response…
A classical portfolio theory deals with finding the optimal proportion in which an agent invests a wealth in a risk-free asset and a probabilistic risky asset. Formulating and solving the problem depend on how the risk is represented and…
Decision-making in manufacturing often involves optimizing key process parameters using data collected from simulation experiments. Gaussian processes are widely used to surrogate the underlying system and guide optimization. Uncertainty…
This paper studies preference aggregation under uncertainty in the multi-profile framework and characterizes a new class of aggregation rules that address classical concerns about Harsanyi's (1955) utilitarian rules. Our aggregation rules,…
In an acceptance monitoring system, acceptance sampling techniques are used to increase production, enhance control, and deliver higher-quality products at a lesser cost. It might not always be possible to define the acceptance sampling…
We study a robust utility maximization problem in a general discrete-time frictionless market under quasi-sure no-arbitrage. The investor is assumed to have a random and concave utility function defined on the whole real-line. She also…
A decision maker's utility depends on her action $a\in A \subset \mathbb{R}^d$ and the payoff relevant state of the world $\theta\in \Theta$. One can define the value of acquiring new information as the difference between the maximum…
Mediative Fuzzy Logic was conceived as a practical scheme for reconciling hesitant or conflicting assessments in fuzzy control and decision-making. However, its logical and semantic foundations remain underdeveloped, especially beyond…
A semantics is given to possibilistic logic, a logic that handles weighted classical logic formulae, and where weights are interpreted as lower bounds on degrees of certainty or possibility, in the sense of Zadeh's possibility theory. The…
In this work, we first define intuitionistic fuzzy parametrized soft sets (intuitionistic FP-soft sets) and study some of their properties. We then introduce an adjustable approaches to intuitionistic FP-soft sets based decision making. We…
Aiming at the group decision - making problem with multi - objective attributes, this study proposes a group decision - making system that integrates fuzzy inference and Bayesian network. A fuzzy rule base is constructed by combining…
This paper shows that the fuzzy temporal logic can model figures of thought to describe decision-making behaviors. In order to exemplify, some economic behaviors observed experimentally were modeled from problems of choice containing time,…
We study a general robust utility maximization problem in a discrete-time frictionless market. The investor is assumed to have a possibly infinite, random, nonconcave, and nondecreasing utility function defined on the whole real line. She…
We develop a qualitative model of decision making with two aims: to describe how people make simple decisions and to enable computer programs to do the same. Current approaches based on Planning or Decisions Theory either ignore uncertainty…
In this paper, a new method based on TOPSIS and optimization models is proposed for multi-attribute group decision-making in the environment of interval-valued intuitionistic fuzzy sets.Firstly, by minimizing the sum of differences between…
Since Leonard Savage's epoch-making "Foundations of Statistics", Subjective Expected Utility Theory has been the presumptive model for decision-making. Savage provided an act-based axiomatization of standard expected utility theory. In this…
This paper proposes a new method to evaluate Decision Making Units (DMUs) under uncertainty using fuzzy Data Envelopment Analysis (DEA). In the proposed multi-objective nonlinear programming methodology both the objective functions and the…