The axiomatic framework of quantum game theory gives us a new platform for exploring economics by resolving the foundational problems that have long plagued the expected utility hypothesis. This platform gives us a previously unrecognized... more
The first axiom of the Analytic Hierarchy Process (AHP) states that the pairwise comparison judgments are reciprocal. Here we explore the relationships between the reciprocal property and preference relations with and without the axiom of... more
We formulate a new theory of expected utility in which risk and uncertainty is modelled by the usage of a so called event space which is a natural generalisation of a state space. The basic idea is that the decision maker for each group... more
We formulate a new theory of expected utility in which risk and uncertainty is modelled by the usage of a so called event space which is a natural generalisation of a state space. The basic idea is that the decision maker for each group... more
Several approaches have been proposed for evaluating information in expected utility theory. Among the most popular approaches are the expected utility increase, the selling price and the buying price. While the expected utility increase... more
Pilotaj eğitimi, başlangıç ve ileri seviye eğitim uçaklarının kullanıldığı filolarda teorik ve pratik fazlardan oluşan uzun bir süreçtir. Aday pilot, bu safhaları geçtikten sonra tekâmül safhasına geçmektedir. Pilot adayının... more
This article examines the relationship between risk, return, skewness, and utility-based preferences. Examples are constructed showing that, for any commonly used utility function, it is possible to have two continuous unimodal random... more
Nicholas Georgescu-Roegen is one of the most famous Romanian economists. From the point of view of the schools of economic thought, his writings are not part of the orthodox typology. An original and unconventional spirit, Nicholas... more
Simulation is so important and crucial because it finally provides the social sciences with a truly “experimental” method for the validation and adjustment of the models and, in particular, for the specification of working architectures... more
This paper aims to represent the special characteristics of rational economics in comparison to the case of the behavioral economics. Therefore, in this analysis are represented these issues, and showed the main differences between the... more
Under the prevailing financial constraints and rapid infrastructure deterioration, funding decisions for renewal (rehabilitation) projects have become large challenges for engineers and economists alike. However, existing prioritization... more
The use of the multiattribute utility theory to measure the stability of patients' quality judgments
A navegação consulta e descarregamento dos títulos inseridos nas Bibliotecas Digitais UC Digitalis, UC Pombalina e UC Impactum, pressupõem a aceitação plena e sem reservas dos Termos e Condições de Uso destas Bibliotecas Digitais,... more
It is shown that an arbitrary game with effective small groups is approximately a market game. Small groups are effective if all or almost all gains to collective activities can be achieved by groups bounded in absolute size. Market games... more
Utilitarianism is an ethical theory that suggests actions should be evaluated based on their outcomes, specifically in maximising overall happiness or well-being. In Appropriate /Alternative Dispute Resolution (ADR), a utilitarian... more
Homo Economicus or economic man, which is the main postulate of classical and neo-classical theories indicate a rational person who makes decisions and pursues wealth for his self-interest. But, human-being is not a rational agent all the... more
This paper presents a methodology to determine the preferences of an individual facing risk in the framework of (non)-expected utility theory. When individual preference satisfies a given invariance property, his utility function is... more
In the paper, we consider the application of the theory of probability metrics in several areas in the field of finance. First, we argue that specially structured probability metrics can be used to quantify stochastic dominance relations.... more
Using results from neurobiology on perceptual decision making and value-based decision making, the problem of decision making between lotteries is reformulated in an abstract space where uncertain prospects are mapped to corresponding... more
This paper reconstructs the history of experimental research on consumer demand behavior between 1930 and 1970. The backgrounds of the experiments and their impact on the development of consumption theory are also investigated. Among... more
The relationship between MAUT and AHP for three-level hierarchic structures is demonstrated based on a common framework interpreting multiattribute decision making techniques. A theorem showing the conditions under which two... more
Pilot training is a long process that consists of theoretical and practical phases in fleets that use both basic and advanced training aircraft. After passing these phases, a prospective pilot progresses to the advanced stage. The... more
The contents of this report reflect the views of the authors who are responsible for the facts and the accuracy of the data presented herein. The contents do not necessarily reflect the official views of the Federal Highway Administration... more
The contents of this report reflect the views of the authors who are responsible for the facts and the accuracy of the data presented herein. The contents do not necessarily reflect the official views of the Federal Highway Administration... more
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Recent developments in generalized probability theory have renewed a debate about whether regularity (i.e., the constraint that only logical contradictions get assigned probability 0) should be a necessary feature of both chances and... more
A systematic multicriteria decision analysis technique is described for contractor selection and bid evaluation based on utility theory and which permits different types of contractor capabilities to be evaluated. A UK case study is used... more
Negotiations in which participants exchange offers based on their chosen positions can be extended to include dialogue about their interests. Revelation of negotiators' interests allows them to make more acceptable offers and perhaps... more
Multiple criteria decision-making methods enable to choose the optimal decision, if his criterions is contradictorys. In herein paper is describe MAUT – multiattribute utility theory. This method is reasoned in theory. MAUT up for... more
We introduce a framework which is based on probabilistic Description logics (Prob-DL), to represent and solve multi-criteria discrete alternative problems by calculating expected utility. To our knowledge, this is the first ever approach... more
Static multi-criteria problem of investing in innovative projects on a set of coalitional partitions finding means compromise vector (one or more) of investment programs, where each component is an investment program of the corresponding... more
Static multi-criteria problem of investing in innovative projects on a set of coalitional partitions finding means compromise vector (one or more) of investment programs, where each component is an investment program of the corresponding... more
This short paper shows that the Allais Paradox and the Common Ratio Effect-regarded as classic examples of the violation of the Expected Utility Theory Axioms-may be easily explained by assuming that changes in wealth (i.e. gains and... more
Surprise is a widely used concept describing a range of phenomena from unexpected events to behavioral responses. We propose a measure of surprise, to arrive at a new framework for surprise-driven learning. There are two components to... more
This issue marks the 50th volume, and year, of the publication of the Journal of Supply Chain Management. As such, this is an opportune moment to look back at the last 50 years and the more recent 2008-13 time period since the Journal's... more
This is a book about Windows application development in C++. It addresses some rather difficult problems that occur during the development of advanced applications. Most books in this genre have many short code examples. This one has only... more
This paper discusses how the equivalent attribute technique (EAT) can be used to improve the comprehensibility of a multi-attribute utility theory study. When using EAT, 'vague' expected total utility values are converted into equivalent... more
The purpose of this research was to identify flexible and rigid pavements in Ohio with average and above average performance, and determine reasons for these differences in performance. The identification and implementation of factors... more
Choosing a particular good or service always depends on the utility that we can expect from it. In different activities, a moment arrives when we need to choose one specific function, object, material, or generally, an entity, comparing... more
In procurement, balancing costs with contract execution performance is key. Our study evaluates a unique experiment where scoring auctions were used with price weighed against the quality of past works rather than future ones. Results... more
The paper presents some aspects of a customable Fuzzy e-Negotiation Agents (FeNAs) system for autonomous multi-issue negotiation in the presence of limited common knowledge and imprecise/soft constraints and preferences. The FeNAs use the... more
In this paper, we describe an approach to allocation of function that makes use of scenarios as its basic unit of analysis. Our use of scenarios is driven by a desire to ensure that allocation decisions are sensitive to the context in... more
This paper estimates the risk preferences of cotton farmers in Southern Peru, using the results from a multiple-price-list lottery game. Assuming that preferences conform to two of the leading models of decision under risk|Expected... more
In any engineering decision-making process, it is a common problem to formulate a model with multiple objectives and to obtain proper answers. If the objectives are opposing, the problem then becomes finding the best possible design that... more
I hereby declare that I'm the sole author of this thesis. This is a true copy of the thesis, including any required final revisions, as accepted by my examiners. I understand that my thesis may be made electronically available to the... more
Decisions are an important part of Concurrent Engineering and engineering design in general. Accordingly, more attention should be paid to the means and methods for making these decisions. In this article, a utility-based decision support... more
We discuss a solution to the winner determination problem which takes into account not only costs but also risk aversion of the agent that accepts the bids. We are interested in bids for tasks that have time and precedence constraints. We... more
In previous work we proposed an approach for computing an agent’s preferences over different schedules of tasks, and for soliciting desirable bid combinations to cover the tasks. The proposed approach finds schedules that maximize the... more