Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
1116352 | Procedia - Social and Behavioral Sciences | 2014 | 9 Pages |
Abstract
The paper presents a new decision rule which may be applied for mixed strategy searching under uncertainty, which means that the decision maker (DM) is able to prepare a payoffs’ matrix with possible alternatives and scenarios, but he does not know the probability of the occurrence of particular states of nature. The advantage of the new method, called the β-decision rule for mixed strategies, is the fact that it takes into account the DM's coefficient of optimism on the basis of which a set of the most probable events is suggested and an optimization model is formulated and solved.
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