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Books > Business & Economics > Business & management > Management & management techniques > Management decision making
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Multiperson Decision Making Models Using Fuzzy Sets and Possibility Theory (Hardcover, 1990 ed.)
Loot Price: R5,336
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Multiperson Decision Making Models Using Fuzzy Sets and Possibility Theory (Hardcover, 1990 ed.)
Series: Theory and Decision Library B, 18
Expected to ship within 18 - 22 working days
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Decision making is certainly a very crucial component of many human
activities. It is, therefore, not surprising that models of
decisions play a very important role not only in decision theory
but also in areas such as operations Research, Management science,
social Psychology etc . . The basic model of a decision in
classical normative decision theory has very little in common with
real decision making: It portrays a decision as a clear-cut act of
choice, performed by one individual decision maker and in which
states of nature, possible actions, results and preferences are
well and crisply defined. The only compo nent in which uncertainty
is permitted is the occurence of the different states of nature,
for which probabilistic descriptions are allowed. These
probabilities are generally assumed to be known numerically, i. e.
as single probabili ties or as probability distribution functions.
Extensions of this basic model can primarily be conceived in three
directions: 1. Rather than a single decision maker there are
several decision makers involved. This has lead to the areas of
game theory, team theory and group decision theory. 2. The
preference or utility function is not single valued but rather
vector valued. This extension is considered in multiattribute
utility theory and in multicritieria analysis. 3."
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