Decision theory in conditions of uncertainty (fuzzy decision)

Decision theory in conditions of uncertainty (fuzzy decision)

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Article ID: iaor20063534
Country: Spain
Start Page Number: 87
End Page Number: 101
Publication Date: Nov 1995
Journal: Fuzzy Economic Review
Authors: , ,
Keywords: fuzzy sets, economics
Abstract:

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.

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