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Value Differences using Second Order Distributions
Stockholm University, Faculty of Social Sciences, Department of Computer and Systems Sciences. Department of Information Technology, Mid Sweden University,Sundsvall, Sweden.
2005 (English)In: International Journal of Approximate Reasoning, ISSN 0888-613X, E-ISSN 1873-4731, Vol. 38, no 1, 81-97 p.Article in journal (Refereed) Published
Abstract [en]

Most decision models for handling vague and imprecise information are unnecessarily restrictive since they do not admit for discrimination between different beliefs in different values. This is true for classical utility theory as well as for the various interval methods that have prevailed. To allow for more refined estimates, we suggest a framework designed for evaluating decision situations considering beliefs in sets of epistemically possible utility and probability functions, as well as relations between them. The various beliefs are expressed using different kinds of belief distributions. We show that the use of such distributions allows for representation principles not requiring too hard data aggregation, but still admitting efficient evaluation of decision situations.

Place, publisher, year, edition, pages
Elsevier, 2005. Vol. 38, no 1, 81-97 p.
Keyword [en]
Decision analysis, Decision theory, Utility theory, Uncertain reasoning, Imprecise probabilities
National Category
Computer and Information Science
Identifiers
URN: urn:nbn:se:su:diva-38108DOI: 10.1016/j.ijar.2004.04.002ISI: 000226539300004OAI: oai:DiVA.org:su-38108DiVA: diva2:305938
Available from: 2010-03-25 Created: 2010-03-25 Last updated: 2017-12-12Bibliographically approved

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