Establishing dominance between strategies with interval judgments of state probabilities

Byeong Seok Ahn and Haechurl Park

Omega, 2014, vol. 49, issue C, 53-59

Abstract: In decision-making under uncertainty, a decision-maker is required to specify, possibly with the help of decision analysts, point estimates of the probabilities of uncertain events. In this setting, it is often difficult to obtain very precise measurements of the decision-maker׳s probabilities on the states of nature particularly when little information is available to evaluate probabilities, available information is not specific enough, or we have to model the conflict case where several information sources are available.

Keywords: Decision-making under uncertainty; Interval probabilities; Change of variables; Extreme points; Dominance (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (4)

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DOI: 10.1016/j.omega.2014.05.007

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