The normalized expected utility – entropy and variance model for decisions under risk

Autor:	Irene Brito
Přispěvatelé:	Universidade do Minho
Rok vydání:	2022
Předmět:	Risk decision model Certainty effect Science & Technology Expected utility Artificial Intelligence Applied Mathematics Common ratio effect Entropy and variance Common consequence effect Software Theoretical Computer Science
Zdroj:	International Journal of Approximate Reasoning. 148:174-201
ISSN:	0888-613X
Popis:	The normalized expected utility - entropy and variance (NEU-EV) decision model and associated risk measure are proposed for the analysis and modelling of decisions under risk. The model depends on normalized entropy and variance and expected utility, can be applied to decision problems depending on actions, where the states have different numbers of outcomes. Several properties of risk perception and examples of certainty effects, common ratio effects and common consequence effects are analysed using this model, considering actions with non-negative outcomes. The results show that the NEU-EV model is an adequate model for explaining these risk decision problems. Acknowledgements The author thanks A.A.J. Marley and J. Yang for helpful comments, suggestions and ideas. The author thanks the reviewers for useful comments. The research was partially financed by Portuguese Funds through FCT (?Fundac ? ?o para a Ci?ncia e a Tecnologia?) within the Projects UIDB/00013/2020 and UIDP/00013/2020.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_dedup___::bf875dfc624e66d2e5c46ed28fba5eb5 https://doi.org/10.1016/j.ijar.2022.06.005 Zobrazit plný text záznamu Full Text from ScienceDirect