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A fuzzy model of managerial decision making incorporating risk and ambiguity aversion

  • A. de Korvin
  • G. Quirchmayr
  • S. Hashemi
Conference paper
Part of the Lecture Notes in Computer Science book series (LNCS, volume 978)

Abstract

In this paper we describe how some well-known deficiencies of managerial decision making models can be overcome by combining previous work of Zebda [Zebda 1984] and de Korvin [de Korvin et al. 1995] with Keynes's conventional coefficient c which has recently been revived by Brady [Brady 1994], Furthermore, in this paper we will show how the described approach can be applied to the standard problem of managerial decision making, especially when selecting the policy that promises the highest gain.

Keywords

Fuzzy sets managerial decision making risk aversion decision theory attitude of decision makers 

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References

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Copyright information

© Springer-Verlag Berlin Heidelberg 1995

Authors and Affiliations

  • A. de Korvin
    • 1
  • G. Quirchmayr
    • 2
  • S. Hashemi
    • 3
  1. 1.University of Houston-DowntownHoustonUSA
  2. 2.Institut f. Angewandte Informatik und InformationssystemeUniversität WienWienAustria
  3. 3.University of Houston-DowntownHoustonUSA

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