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Fuzzy rationality and parameter elicitation in decision analysis
journal contribution
posted on 2023-05-19, 20:43 authored by Nataliya NikolovaNataliya Nikolova, Kiril TenekedjievKiril TenekedjievIt is widely recognised by decision analysts that real decision-makers always make estimates in an interval form. An overview of techniques to find an optimal alternative among such with imprecise and interval probabilities is presented. Scalarisation methods are outlined as most appropriate. A proper continuation of such techniques is fuzzy rational (FR) decision analysis. A detailed representation of the elicitation process influenced by fuzzy rationality is given. The interval character of probabilities leads to the introduction of ribbon functions, whose general form and special cases are compared with the p-boxes. As demonstrated, approximation of utilities in FR decision analysis does not depend on the probabilities, but the approximation of probabilities is dependent on preferences.
History
Publication title
International Journal of General SystemsVolume
39Issue
5Pagination
539-556ISSN
0308-1079Department/School
Australian Maritime CollegePublisher
Taylor & Francis LtdPlace of publication
United KingdomRights statement
Copyright 2010 Taylor & FrancisRepository Status
- Restricted