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Distributions over Expected Utilities in Decision Analysis
KTH, School of Information and Communication Technology (ICT), Computer and Systems Sciences, DSV.
2007 (English)Conference paper, Published paper (Refereed)
Abstract [en]

It is often recognised that in real-life decision situations, classical utility theory puts too strong requirements on the decision-maker. Various interval approaches for decision making have therefore be. developed and these have been reasonably successful. However, a problem that sometimes appears in real-life situations is that the result of an evaluation still has an uncertainty about which alternative is to prefer. This is due to expected utility overlaps rendering discrimination more difficult;. In this article we discuss how adding second-order information may increase a decision-maker's understanding of a decision situation when handling aggregations of imprecise representations, as is the case in decision trees or influence diagrams.

Place, publisher, year, edition, pages
2007. 175-182 p.
Series
ISIPTA 2007 - Proceedings of the 5th International Symposium on Imprecise ProbabilityUM ON IMPRECISE PROBABILITY:THEORIES AND APPLICATIONS
National Category
Control Engineering
Identifiers
URN: urn:nbn:se:kth:diva-152145ISI: 000265049000019Scopus ID: 2-s2.0-55849116114ISBN: 978-808674220-5 (print)OAI: oai:DiVA.org:kth-152145DiVA: diva2:749251
Conference
5th International Symposium on Imprecise Probability, Pragu,2007
Note

QC 20140923

Available from: 2014-09-23 Created: 2014-09-23 Last updated: 2014-09-23Bibliographically approved

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