Fuzzy-Rational Betting on Sport Games with Interval Probabilities

  • Kiril I. Tenekedjiev
  • Natalia D. Nikolova
  • Carlos A. Kobashikawa
  • Kaoru Hirota

Summary

The paper discusses betting on sport events by a fuzzy-rational decision maker, who elicits interval subjective probabilities, which may be conveniently described by intuitionistic fuzzy sets. Finding the optimal bet for this decision maker is modeled and solved using fuzzy-rational generalized lotteries of II type. Approximation of interval probabilities is performed with the use of four criteria under strict uncertainty. Four expected utility criteria are formulated on that basis. The scheme accounts for the interval character of probability elicitation results. Index Terms. – generalized lotteries of II type, intuitionistic fuzzy sets, fuzzy rationality, interval probabilities.

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Copyright information

© Springer-Verlag Berlin Heidelberg 2008

Authors and Affiliations

  • Kiril I. Tenekedjiev
    • 1
  • Natalia D. Nikolova
    • 1
  • Carlos A. Kobashikawa
    • 2
  • Kaoru Hirota
    • 2
  1. 1.Technical University-VarnaVarnaBulgaria
  2. 2.Interdisciplinary Graduate School of Science and Engineering, Dept. of Computational Intelligence and Systems ScienceTokyo Institute of TechnologyYokohama-cityJapan

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