A decision model based on expected utility, entropy and variance (Q2180680)
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scientific article; zbMATH DE number 7200803
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| English | A decision model based on expected utility, entropy and variance |
scientific article; zbMATH DE number 7200803 |
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A decision model based on expected utility, entropy and variance (English)
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14 May 2020
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The author proposes an expected utility, entropy and variance decision model, in which the decision criterion depends on the uncertainty risk factors entropy and variance, and on the subjective expected utility. The model is successfully applied to decision problems existing in the literature.
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decision analysis
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expected utility
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entropy
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variance
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decision model
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risk
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0.8824373483657837
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0.8427107930183411
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0.8183304071426392
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0.7833199501037598
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0.7763965725898743
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