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Books > Reference & Interdisciplinary > Communication studies > Decision theory
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Sensitivity Analysis in Multi-objective Decision Making (Paperback, 1990 ed.)
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Sensitivity Analysis in Multi-objective Decision Making (Paperback, 1990 ed.)
Series: Lecture Notes in Economics and Mathematical Systems, 347
Expected to ship within 10 - 15 working days
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The axiomatic foundations of the Bayesian approach to decision
making assurne precision in the decision maker's judgements. In
practicc, dccision makers often provide only partial and/or
doubtful information. We unify and expand results to deal with
those cases introducing a general framework for sensitivity
analysis in multi-objective decision making. We study first
decision making problems under partial information. We provide
axioms leading to modelling preferences by families of value
functions, in problems under certainty, and moJelling beliefs by
families of probability distributions and preferences by familics
of utility functions, in problems under uncertainty. Both problems
are treated in parallel with the same parametric model.
Alternatives are ordered in a Pareto sense, the solution of the
problem being the set of non dominated alternatives. Potentially
optimal solutions also seem acceptable, from an intuitive point of
view and due to their relation with the nondominated ones.
Algorithms are provided to compute these solutions in general
problems and in cases typical in practice: linear and bilinear
problems. Other solution concepts are criticised on the grounds of
being ad hoc. In summary, we have a more ro bust theory of decision
making based on a weaker set ofaxioms, but embodying coherence,
since it essentially implies carrying out a family of coherent
dccision anitlyses."
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