(u, 1) Utility function in multiple criteria decision models

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F60460709%3A41110%2F07%3A22932" target="_blank" >RIV/60460709:41110/07:22932 - isvavai.cz</a>

Výsledek na webu

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DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

(u, 1) Utility function in multiple criteria decision models

Popis výsledku v původním jazyce

Decision theory and decision models enable the decision-maker to make rational decisions under the more or less known future situation. In practice, the best decision alternative is often chosen under more decision criteria, too. So the decision problemwith m alternatives, n states of nature and k criteria can be defined. In this paper an analysis of decision alternatives using the special form of utility function - (u, 1) utility function - in the multiple criteria case is described. An example of this function and its application is demonstrated and discussed herein. The advantage of utility function lies within the possibility of the best analysis of positive or negative payoff values, which is impossible using the von Neumann utility. When utilityvalues are aggregated using a weighted sum of values, risk profiles of all alternatives can be analysed more realistically because the aggregated utility value can be decreased by the negative utility values.

Název v anglickém jazyce

(u, 1) Utility function in multiple criteria decision models

Popis výsledku anglicky

Decision theory and decision models enable the decision-maker to make rational decisions under the more or less known future situation. In practice, the best decision alternative is often chosen under more decision criteria, too. So the decision problemwith m alternatives, n states of nature and k criteria can be defined. In this paper an analysis of decision alternatives using the special form of utility function - (u, 1) utility function - in the multiple criteria case is described. An example of this function and its application is demonstrated and discussed herein. The advantage of utility function lies within the possibility of the best analysis of positive or negative payoff values, which is impossible using the von Neumann utility. When utilityvalues are aggregated using a weighted sum of values, risk profiles of all alternatives can be analysed more realistically because the aggregated utility value can be decreased by the negative utility values.

Druh

J_x - Nezařazeno - Článek v odborném periodiku (Jimp, Jsc a Jost)

CEP obor

BB - Aplikovaná statistika, operační výzkum

OECD FORD obor

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Projekt

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Návaznosti

S - Specificky vyzkum na vysokych skolach

Rok uplatnění

2007

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název periodika

Scientia Agriculturae Bohemica

ISSN

1211-3174

e-ISSN

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Svazek periodika

38

Číslo periodika v rámci svazku

2

Stát vydavatele periodika

CZ - Česká republika

Počet stran výsledku

6

Strana od-do

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Kód UT WoS článku

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EID výsledku v databázi Scopus

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