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Risk-Sensitive Multiagent Decision-Theoretic Planning Based on MDP and One-Switch Utility Functions
Joint Authors
Zhou, Hongtao
Zeng, Wei
You, Mingshan
Source
Mathematical Problems in Engineering
Issue
Vol. 2014, Issue 2014 (31 Dec. 2014), pp.1-11, 11 p.
Publisher
Hindawi Publishing Corporation
Publication Date
2014-07-07
Country of Publication
Egypt
No. of Pages
11
Main Subjects
Abstract EN
In high stakes situations decision-makers are often risk-averse and decision-making processes often take place in group settings.
This paper studies multiagent decision-theoretic planning under Markov decision processes (MDPs) framework with considering the change of agent’s risk attitude as his wealth level varies.
Based on one-switch utility function that describes agent’s risk attitude change with his wealth level, we give the additive and multiplicative aggregation models of group utility and adopt maximizing expected group utility as planning objective.
When the wealth level approaches infinity, the characteristics of optimal policy are analyzed for the additive and multiplicative aggregation model, respectively.
Then a backward-induction method is proposed to divide the wealth level interval from negative infinity to initial wealth level into subintervals and determine the optimal policy in states and subintervals.
The proposed method is illustrated by numerical examples and the influences of agent’s risk aversion parameters and weights on group decision-making are also analyzed.
American Psychological Association (APA)
Zeng, Wei& Zhou, Hongtao& You, Mingshan. 2014. Risk-Sensitive Multiagent Decision-Theoretic Planning Based on MDP and One-Switch Utility Functions. Mathematical Problems in Engineering،Vol. 2014, no. 2014, pp.1-11.
https://search.emarefa.net/detail/BIM-491485
Modern Language Association (MLA)
Zeng, Wei…[et al.]. Risk-Sensitive Multiagent Decision-Theoretic Planning Based on MDP and One-Switch Utility Functions. Mathematical Problems in Engineering No. 2014 (2014), pp.1-11.
https://search.emarefa.net/detail/BIM-491485
American Medical Association (AMA)
Zeng, Wei& Zhou, Hongtao& You, Mingshan. Risk-Sensitive Multiagent Decision-Theoretic Planning Based on MDP and One-Switch Utility Functions. Mathematical Problems in Engineering. 2014. Vol. 2014, no. 2014, pp.1-11.
https://search.emarefa.net/detail/BIM-491485
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references
Record ID
BIM-491485