Determinism, Probability, and Imprecision in Decision-Making
This chapter looks into the decision to move house and the way in which the decision can be formalized by integrating the reflections from the previous chapters. The fact is that the decision-making process is seldom considered in the context of mathematical modelling of residential mobility. The modelling approaches set out in chapter 9 rest essentially on the concept of preferences and investigate the way in which individuals set about classifying criteria or alternatives with respect to residential choice.
KeywordsQuantum Mechanic Utility Function Expected Utility Subjective Probability Prospect Theory
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