Decision Making with Imprecise Second-Order Probabilities

In this paper we consider decision making under hierarchical imprecise uncertainty models and derive general algorithms to determine optimal actions. Numerical examples illustrate the proposed methods. Keywords decision making, generalized expected utility, imprecise probabilities, second-order uncertainty, natural extension, linear programming

• Type: Conference
• Year: 2003
• Where: ISIPTA
• Authors: Lev V. Utkin
• Keywords: Decision Making, Hierarchical Imprecise Uncertainty, Imprecise Probabilities, ISIPTA 2003, Mathematics