Plausibility relations and multiple expected utilities in decision-making under uncertainty
Rizzi, Michel (1984), Plausibility relations and multiple expected utilities in decision-making under uncertainty, European Journal of Operational Research, 16, 3, p. 358-364. http://dx.doi.org/10.1016/0377-2217(84)90290-X
TypeArticle accepté pour publication ou publié
Journal nameEuropean Journal of Operational Research
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Abstract (EN)In this article we develop a new method for dealing with decision-making problems under uncertainty, derived from the one proposed by Fourgeaud, Lenclud and Sentis in 1968. We offer an information gathering procedure based on plausibility relations between ‘possible futures’ which leads to the construction of a polyhedron which contains all the admissible probability measures. Thus it is possible to compare alternatives by associating with each one of them a set of expected utilities calculated from these measures. An application concerning the cost effectiveness of the flexible manufacturing systems figures as an illustration. The utilization facilities of the method and its value as an instrument for supporting decision-making are particularly highlighted here.
Subjects / Keywordsuncertainty; decision-making problems
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