Article ID: | iaor20063534 |
Country: | Spain |
Start Page Number: | 87 |
End Page Number: | 101 |
Publication Date: | Nov 1995 |
Journal: | Fuzzy Economic Review |
Authors: | Lazzari L.L., Machado E.A.M., Prez R.H. |
Keywords: | fuzzy sets, economics |
The aim of this essay is to propose an alternative study of the model of decision-making in conditions of uncertainty. The proposition covers: a) a fuzzy treatment of the ‘state of events’, b) an algorithm to obtain the ‘consequences’ of each ‘course of action’, c) a ‘methodology’ with respect to courses of action and, d) the essential inclusion of an ‘attitude to risk’ function in order to transform this primitive method into one which includes a ‘measurement’ between each element in the course of events.