Article ID Journal Published Year Pages File Type
973438 Mathematical Social Sciences 2006 17 Pages PDF
Abstract

A decision making problem is considered from algebraic point of view. The set of outcomes (consequences) is supposed to be partially ordered according to the decision maker's preferences. The problem is how these preferences affect a decision maker to prefer one of his strategies (or acts) over another, i.e., to describe suitable preference relations (called derived preference relations) on the set of the decision maker's strategies. This problem is formalized by using a category theory approach and is reduced to a pure algebraical question. An effective method is suggested for constructing all reasonable derived preference relations and some examples are presented which illustrate how the method is applied.

Related Topics
Physical Sciences and Engineering Mathematics Applied Mathematics
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