Decision making under uncertainty using imprecise probabilities
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Publication:997028
DOI10.1016/J.IJAR.2006.06.001zbMATH Open1119.91028arXiv1807.03705OpenAlexW2036376268MaRDI QIDQ997028FDOQ997028
Authors: Matthias C. M. Troffaes 
Publication date: 19 July 2007
Published in: International Journal of Approximate Reasoning (Search for Journal in Brave)
Abstract: Various ways for decision making with imprecise probabilities (admissibility, maximal expected utility, maximality, E-admissibility, -maximax, -maximin, all of which are well-known from the literature) are discussed and compared. We generalize a well-known sufficient condition for existence of optimal decisions. A simple numerical example shows how these criteria can work in practice, and demonstrates their differences. Finally, we suggest an efficient approach to calculate optimal decisions under these decision criteria.
Full work available at URL: https://arxiv.org/abs/1807.03705
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