Decision making by hybrid probabilistic - possibilistic utility theory

Research output: Contribution to journalArticle

1 Citation (Scopus)

Abstract

It is presented an approach to decision theory based upon nonprobabilistic uncertainty. There is an axiomatization of the hybrid probabilistic-possibilistic mixtures based on a pair of triangular conorm and triangular norm satisfying restricted distributivity law, and the corresponding non-additive Smeasure. This is characterized by the families of operations involved in generalized mixtures, based upon a previous result on the characterization of the pair of continuous t-norm and t-conorm such that the former is restrictedly distributive over the latter. The obtained family of mixtures combines probabilistic and idempotent (possibilistic) mixtures via a threshold.

Original languageEnglish
Pages (from-to)421-433
Number of pages13
JournalPanoeconomicus
Volume56
Issue number4
DOIs
Publication statusPublished - Dec 2009

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Utility theory
Decision making
Axiomatization
Decision theory
Uncertainty

Keywords

  • Decision making
  • Hybrid probabilistic-possibilistic mixture
  • Possibilistic mixture
  • Pseudoadditive measure
  • Triangular conorm
  • Triangular norm
  • Utility theory

ASJC Scopus subject areas

  • Economics, Econometrics and Finance(all)

Cite this

Decision making by hybrid probabilistic - possibilistic utility theory. / Pap, E.

In: Panoeconomicus, Vol. 56, No. 4, 12.2009, p. 421-433.

Research output: Contribution to journalArticle

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