A game‐theoretic approach to decision making under uncertainty

Ronald R. Yager

Intelligent Systems in Accounting, Finance and Management, 1999, vol. 8, issue 2, 131-143

Abstract: We discuss the problem of decision making under uncertainty. Here an action choice must be made without knowing the value of all relevant variables. The importance of decision attitude, i.e. optimistic/pessimistic, is emphasized and a unified approach for evaluating alternatives under different attitudes is discussed. We show the connection between decision making under uncertainty and competitive decision making—game theory. We then draw upon a key concept used in game theory, the association of a selection probability with each alternative rather then a decisive selection of an alternative, and apply this idea to decision making under uncertainty. Copyright © 1999 John Wiley & Sons, Ltd.

Date: 1999
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https://doi.org/10.1002/(SICI)1099-1174(199906)8:23.0.CO;2-0

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