Abstract
In situations when we have a perfect knowledge about the outcomes of several situations, a natural idea is to select the best of these situations. For example, among different investments, we should select the one with the largest gain. In practice, however, we rarely know the exact consequences of each action. In some cases, we know the lower and upper bounds on the corresponding gain. It has been proven that in such cases, an appropriate decision is to use Hurwicz optimism-pessimism criterion. In this paper, we extend the corresponding results to the cases when we only know an upper bound or a lower bound.
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References
Aczél, J., Dhombres, J.: Functional Equations in Several Variables. Cambridge University Press, Cambridge (2008)
Lorkowski, J., Aliev, R., Kreinovich, V., Towards decision making under interval, setvalued, fuzzy, and z-number uncertainty: a fair price approach. In: Proceedings of the IEEE World Congress on Computational Intelligence WCCI’2014, Beijing, China, July 6–11, 2014
Acknowledgements
This work was supported in part by the National Science Foundation grants:
\(\bullet \) 1623190 (A Model of Change for Preparing a New Generation for Professional Practice in Computer Science), and
\(\bullet \) HRD-1834620 and HRD-2034030 (CAHSI Includes).
It was also supported:
\(\bullet \) by the AT &T Fellowship in Information Technology, and
\(\bullet \) by the program of the development of the Scientific-Educational Mathematical Center of Volga Federal District No. 075-02-2020-1478.
The authors are thankful to all the participants of the 26th Annual UTEP/NMSU Workshop on Mathematics, Computer Science, and Computational Science (El Paso, Texas, November 5, 2021) for valuable discussions.
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Kamio, T., Baechle, G., Kreinovich, V. (2023). Decision Making Under Uncertainty: Cases When We Only Know an Upper Bound or a Lower Bound. In: Ceberio, M., Kreinovich, V. (eds) Decision Making Under Uncertainty and Constraints. Studies in Systems, Decision and Control, vol 217. Springer, Cham. https://doi.org/10.1007/978-3-031-16415-6_28
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DOI: https://doi.org/10.1007/978-3-031-16415-6_28
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