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Boundedly rational expected utility theory. [PDF]
J Risk Uncertain, 2018 We build a satisficing model of choice under risk which embeds Expected Utility Theory (EUT) into a boundedly rational deliberation process. The decision maker accumulates evidence for and against alternative options by repeatedly sampling from her ...
Navarro-Martinez D +4 more
europepmc +2 more sources
IEEE Access, 2019 Fuzzy theory defined by Zadeh has been developed through both analytical and computational categories of diverse sciences in light of time. The goal of applying fuzzy theory is to incorporate uncertainties with conventional deterministic calculations to ...
Peide Liu +4 more
doaj +2 more sources
Utility of Sacrifices: Reorientation of the Utility Theory
Review of Business and Economics Studies, 2023 Utility theory is a pivotal concept in economics that provides insights into how an individual is motivated to act under budget constraints. The main assumption of this theory and the entire field of economics is that a rational human being and an ...
Arun GC
doaj +2 more sources
Additive Utility in Prospect Theory [PDF]
Management Science, 2009 Prospect theory is currently the main descriptive theory of decision under uncertainty. It generalizes expected utility by introducing nonlinear decision weighting and loss aversion. A difficulty in the study of multiattribute utility under prospect theory is to determine when an attribute yields a gain or a loss.
Han Bleichrodt, Horst Zank
exaly +5 more sources
On the Use of Utility Theory in Engineering Design
IEEE Systems Journal, 2018 Multiattribute utility theory has a long history of application in engineering and systems design. These applications rely almost exclusively on two types of utility functions: the additive and multiplicative forms.
Ali Abbas
exaly +2 more sources
Frontiers in Earth Science, 2023 Introduction: Quasi-public water conservancy PPP (Public-private participation) projects are closely related to people’s livelihoods and involve multiple participating stakeholders. Previous research on risk sharing in such projects has primarily focused
Dawei Liu, Liang Liu, Xin Tan
doaj +1 more source
European Journal of Marketing, 2022 Purpose This study aims to examine the impact of five consumption values (i.e. ecological, functional, symbolic, experiential and epistemic) on consumers’ intentions to adopt green products.
Ruizhi Yuan, Martin J. Liu, Markus Blut
semanticscholar +1 more source
A Theory of Utilization Review [PDF]
Contributions in Economic Analysis & Policy, 2003 Through utilization review (UR), managed care organizations (MCOs) monitor and alter physician treatment decisions. We show that the value of UR depends on physician incentives. Not surprisingly, when physicians have incentives to significantly overtreat patients, UR can improve social welfare by eliminating unnecessary utilization.
Dranove, David, Spier, Kathryn
openaire +4 more sources
Pseudo-Analysis as a Tool of Information Processing
Proceedings, 2022 The theory of the pseudo-analysis is based on a special real semiring (called also tropical semiring). This theory enables a unified approach to three important problems as nonlinearity, uncertainty and optimization, with many applications.
Endre Pap
doaj +1 more source
An Interval-Valued Utility Theory for Decision Making with Dempster-Shafer Belief Functions [PDF]
International Journal of Approximate Reasoning, 2019 The main goal of this paper is to describe an axiomatic utility theory for Dempster-Shafer belief function lotteries. The axiomatic framework used is analogous to von Neumann-Morgenstern's utility theory for probabilistic lotteries as described by Luce ...
T. Denoeux, Prakash P. Shenoy
semanticscholar +1 more source