NDLI: Solutions with fuzzy-rational generalized lotteries of III type with a one-dimensional parameter

Content Provider	IEEE Xplore Digital Library
Author	Nikolova, N.D. Tenekedjiev, K.I.
Copyright Year	2010
Description	Author affiliation: Dept. Economics and Management, Technical University, Varna, Bulgaria (Nikolova, N.D.; Tenekedjiev, K.I.)
Abstract	Generalized lotteries of III type apply to cases, where both the number of alternatives and the number of consequences are countless. Since real decision makers elicit probabilities in an interval form, they disobey axioms of rationality and are called fuzzy rational decision makers. Generalized lotteries of III type, where the probability is partially described by ribbon distribution functions (constructed using interval probability measures of fuzzy rational decision makers), are called fuzzy rational generalized lotteries of III type. This paper focuses on the model of fuzzy-rational generalized lotteries of III type, defined by a one-dimensional parameter, and each containing one-dimensional prizes. The way to rank such lotteries is formalized in a three-step Q-expected utility criterion. It is implemented in a price selection problem with two Q criteria.
Starting Page	132
Ending Page	136
File Size	128489
Page Count	5
File Format	PDF
ISBN	9781424451630
DOI	10.1109/IS.2010.5548364
Language	English
Publisher	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Publisher Date	2010-07-07
Publisher Place	United Kingdom
Access Restriction	Subscribed
Rights Holder	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Subject Keyword	Utility theory Uncertainty Distribution functions Delta modulation Fuzzy sets Probability distribution expected utility generalized lotteries fuzzy rationality criteria under strict uncertainty
Content Type	Text
Resource Type	Article

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