Valuation of Crisp and Intuitionistic Fuzzy Information

Olga Metzger (), Thomas Spengler () and Tobias Volkmer
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Olga Metzger: Otto von Guericke University
Thomas Spengler: Otto von Guericke University
Tobias Volkmer: Otto von Guericke University

A chapter in Operations Research Proceedings 2017, 2018, pp 113-119 from Springer

Abstract: Abstract The standard model of information valuation as presented by Emery, Organization planning and control systems: theory and technology, Macmillan Pub Co., London, 1969, [1] and Laux, Grundfragen der Organisation: Delegation Anreiz und Kontrolle, Springer, Berlin, 1979, [2] is based on Bayesian statistics. This approach is limited to the processing of a crisp objective function as well as a crisp decision field. It is assumed that information is solely obtained in order to improve prior state probabilities. In this paper, we first present and discuss variations of the standard model, including considerations of potential negative information values. Second, we want to take vague information into account by implementing intuitionistic fuzzy logic.

Keywords: Information value; Information theory; Vague information; Intuitionistic fuzzy logic (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:spr:oprchp:978-3-319-89920-6_16

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DOI: 10.1007/978-3-319-89920-6_16

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