Expected Utility Based Decision Making under Z-Information and Its Application
Joint Authors
Aliev, Rashad R.
Mraiziq, Derar Atallah Talal
Huseynov, Oleg H.
Source
Computational Intelligence and Neuroscience
Issue
Vol. 2015, Issue 2015 (31 Dec. 2015), pp.1-11, 11 p.
Publisher
Hindawi Publishing Corporation
Publication Date
2015-08-03
Country of Publication
Egypt
No. of Pages
11
Main Subjects
Abstract EN
Real-world decision relevant information is often partially reliable.
The reasons are partial reliability of the source of information, misperceptions, psychological biases, incompetence, and so forth.
Z-numbers based formalization of information (Z-information) represents a natural language (NL) based value of a variable of interest in line with the related NL based reliability.
What is important is that Z-information not only is the most general representation of real-world imperfect information but also has the highest descriptive power from human perception point of view as compared to fuzzy number.
In this study, we present an approach to decision making under Z-information based on direct computation over Z-numbers.
This approach utilizes expected utility paradigm and is applied to a benchmark decision problem in the field of economics.
American Psychological Association (APA)
Aliev, Rashad R.& Mraiziq, Derar Atallah Talal& Huseynov, Oleg H.. 2015. Expected Utility Based Decision Making under Z-Information and Its Application. Computational Intelligence and Neuroscience،Vol. 2015, no. 2015, pp.1-11.
https://search.emarefa.net/detail/BIM-1057688
Modern Language Association (MLA)
Aliev, Rashad R.…[et al.]. Expected Utility Based Decision Making under Z-Information and Its Application. Computational Intelligence and Neuroscience No. 2015 (2015), pp.1-11.
https://search.emarefa.net/detail/BIM-1057688
American Medical Association (AMA)
Aliev, Rashad R.& Mraiziq, Derar Atallah Talal& Huseynov, Oleg H.. Expected Utility Based Decision Making under Z-Information and Its Application. Computational Intelligence and Neuroscience. 2015. Vol. 2015, no. 2015, pp.1-11.
https://search.emarefa.net/detail/BIM-1057688
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references
Record ID
BIM-1057688