Stochastic Programming and Value Based Decisions

Stochastic Programming and Value Based Decisions

Yuri Pavlov (Bulgarian Academy of Sciences, Institute of Information and Communication Technologies, Bulgaria) and Rumen Andreev (Bulgarian Academy of Sciences, Institute of Information and Communication Technologies, Bulgaria)
DOI: 10.4018/978-1-5225-1759-7.ch054
OnDemand PDF Download:
$30.00
List Price: $37.50

Chapter Preview

Top

Background

The description of the value based decision requires basic analytical representation of the DM’s preferences. The mathematical description on such a fundamental level requires basic mathematical terms like sets, relations and operations over them, and their gradual elaboration to more complex and specific terms like functions, operators on mathematically structured sets as well, and equivalency of these descriptions with respect to a given real object. In the last aspect of equivalency of the mathematical descriptions we enter the theory of measurements and scaling (Luce, Krantz, Suppes, & Tversky, 1990; Pfanzagl, 1971).

Complete Chapter List

Search this Book:
Reset