Uncertain decision making with fuzzy information

Uncertain decision making with fuzzy information

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Article ID: iaor20031546
Country: China
Volume: 29
Issue: 10
Start Page Number: 37
End Page Number: 40
Publication Date: Oct 2001
Journal: Journal of Huazhong University of Science and Technology
Authors: , , ,
Keywords: fuzzy sets
Abstract:

This paper investigates a type of uncertain decision-making problem with fuzzy probability and fuzzy payoff assessment. The consistency of the probability assessment is considered. A method for obtaining the expected fuzzy payoff of a strategy in the face of fuzzy information is proposed. The optimal strategy is determined by comparing the expected fuzzy payoffs. Finally, a numerical example is given to illustrate the proposed method. The results show the approach is simple, reasonable and easy to implement.

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