Decision making with imprecise probabilistic information (Q707383)

A new approach to the modelling of decision-making under uncertainty is adopted in the referred paper. The decision-makers' behavior and preferences are described by pairs (act, information) where, namely, the information is the main object of the investigation. It can be represented by a set of probability distributions over the basic space. The main contribution of the paper consists in the specification of the notion of imprecision for the informational setting. Moreover, a measure of decision-maker's imprecision aversion is shown. It is shown, as well, that the decision-maker's attitude towards imprecision respects the maximin criterion - he maximizes the minimum expected utility.