Research on Emergency Decision Making Considering Decision-Maker Peference Based on Improved Regret Theory—A Case Study of Covid-19

Yang Su () and Sun Taibao
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Yang Su: Anhui Jianzhu University
Sun Taibao: Anhui Jianzhu University

A chapter in Proceedings of the 27th International Symposium on Advancement of Construction Management and Real Estate, 2023, pp 749-764 from Springer

Abstract: Abstract For public health emergencies, adopting different response plans often makes the emergencies develop in different ways. In this paper, we propose a methodology for emergency decision-making based on regret theory, which takes into account the preferences of decision-makers. In this paper, we first calculate the utility value of each solution (including the utility value of the loss caused by the emergency and the utility value of the cost incurred in implementing the solution); then, we calculate the regret value of the emergency solution to obtain the perceived utility value of the loss and cost incurred by the decision maker; then, we calculate the combined perceived utility of the emergency solution; then, based on the combined perceived utility, we add the decision maker’s Finally, an example study is presented to show that taking into account the decision maker’s preferences does have a significant impact on the choice of contingency decision.

Keywords: Regret theory; Covid-19 outbreak; Delta virus; Public health emergencies; Emergency decision-making; Decision-maker preferences (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:lnopch:978-981-99-3626-7_58

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DOI: 10.1007/978-981-99-3626-7_58

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