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Multistage Decision Making Based on One-Shot Decision Theory

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Knowledge Engineering and Management

Part of the book series: Advances in Intelligent and Soft Computing ((AINSC,volume 123))

Abstract

In this paper, a multistage decision problem for minimizing the total cost with partially known information is considered. In each stage, a decision maker has one and only one chance to make a decision. The optimal decision in each stage is obtained based on the one-shot decision theory. That is, the decision maker chooses one of states of nature (scenario) of each alternative in every stage with considering the satisfaction of the outcome and its possibility. The selected state of nature is called the focus point. Based on the focus points, the decision maker determines the optimal alternative in each stage by dynamic programming problems.

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Author information

Authors and Affiliations

  1. Faculty of Business Administration, Yokohama National University, Yokohama, 240-8501, Japan

    Peijun Guo & Yonggang Li

Authors
  1. Peijun Guo
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  2. Yonggang Li
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Editor information

Editors and Affiliations

  1. Department of Computer Science and Engineering, Shanghai Jiao Tong University, 800 Dongchuan Road, 200240, Shanghai, China

    Yinglin Wang

  2. School of Information Science and Technology, Southwest Jiaotong University, 610031, Chengdu, Sichuan Province, China

    Tianrui Li

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© 2011 Springer-Verlag Berlin Heidelberg

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Guo, P., Li, Y. (2011). Multistage Decision Making Based on One-Shot Decision Theory. In: Wang, Y., Li, T. (eds) Knowledge Engineering and Management. Advances in Intelligent and Soft Computing, vol 123. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-25661-5_21

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  • DOI: https://doi.org/10.1007/978-3-642-25661-5_21

  • Publisher Name: Springer, Berlin, Heidelberg

  • Print ISBN: 978-3-642-25660-8

  • Online ISBN: 978-3-642-25661-5

  • eBook Packages: EngineeringEngineering (R0)

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