Article ID: | iaor20115117 |
Volume: | 149 |
Issue: | 3 |
Start Page Number: | 599 |
End Page Number: | 629 |
Publication Date: | Jun 2011 |
Journal: | Journal of Optimization Theory and Applications |
Authors: | Pham D |
Keywords: | game theory, optimization |
The work presents an attainment of risk‐averse cooperative solutions in multi‐person, single‐objective decision problems for practical situations of the probabilistic (rather than deterministic) nature of performance reliability, its consequences on measuring performance reliability, and the difference between predicting and designing for performance reliability. In particular, some novel research contributions include: (i) closed‐loop performance assessment via a performance‐information analysis; (ii) cooperative decision selection via a risk‐value model; and (iii) risk‐averse cooperative decision strategies against confrontations and noncooperation from a malevolent opponent and a stationary environment, respectively.