A decision model based on expected utility, entropy and variance
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Publication:2180680
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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- Fractional order entropy-based decision-making models under risk
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- Extreme risk decision modeling: a new approach with an application to air pollution based on PM2.5
- A preference ranking model based on both mean-variance analysis and cumulative distribution function using simulation
- Remarks on ``a measure of risk and a decision-making model based on expected utility and entropy by \textit{J. Yang} and \textit{W. Qiu} [Eur. J. Oper. Res. 164, No. 3, 792--799 (2005; Zbl 1057.91020)]
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