Decision analysis with multiple objectives in a framework for evaluating imprecision
2005 (English)In: International Journal of Uncertainty Fuzziness and Knowledge-Based Systems, ISSN 0218-4885, Vol. 13, no 5, 495-509 p.Article in journal (Refereed) Published
We present a decision tree evaluation method for analyzing multi-attribute decisions under risk, where information is numerically imprecise. The approach extends the use of additive and multiplicative utility functions for supporting evaluation of imprecise statements, relaxing requirements for precise estimates of decision parameters. Information is modeled in convex sets of utility and probability measures restricted by closed intervals. Evaluation is done relative to a set of rules, generalizing the concept of admissibility, computationally handled through optimization of aggregated utility functions. Pros and cons of two approaches, and tradeoffs in selecting a utility function, are discussed.
Place, publisher, year, edition, pages
2005. Vol. 13, no 5, 495-509 p.
decision analysis, multi-attribute utility theory, decision tools, imprecise information
Computer and Information Science
IdentifiersURN: urn:nbn:se:kth:diva-42521DOI: 10.1142/S021848850500362XISI: 000232867500003ScopusID: 2-s2.0-27144471339OAI: oai:DiVA.org:kth-42521DiVA: diva2:447443
QC 201110122011-10-122011-10-112011-10-12Bibliographically approved