Decision making under uncertainty–An example for seismic risk management

Decision making under uncertainty–An example for seismic risk management

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Article ID: iaor201063
Volume: 30
Issue: 1
Start Page Number: 78
End Page Number: 94
Publication Date: Jan 2010
Journal: Risk Analysis
Authors: , ,
Keywords: earthquakes
Abstract:

Decision-making techniques are used to select the ‘best’ alternatives under multiple and often conflicting criteria. Multicriteria decision making (MCDM) necessitates to incorporate uncertainties in the decision-making process. The major thrust of this article is to extend the framework proposed by Yager for multiple decision makers and fuzzy utilities (payoffs). In addition, the concept of expert credibility factor is introduced. The proposed approach is demonstrated for an example of seismic risk management using a heuristic hierarchical structure. A step-by-step formulation of the proposed approach is illustrated using a hypothetical example and a three-story reinforced concrete building.

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