Download or read book Cumulative Prospect Theory for Parametric and Multiattribute Utilities written by Horst Zank and published by . This book was released on 1998 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Multiple Criteria Decision Analysis written by Salvatore Greco and published by Springer. This book was released on 2016-02-18 with total page 1356 pages. Available in PDF, EPUB and Kindle. Book excerpt: In two volumes, this new edition presents the state of the art in Multiple Criteria Decision Analysis (MCDA). Reflecting the explosive growth in the field seen during the last several years, the editors not only present surveys of the foundations of MCDA, but look as well at many new areas and new applications. Individual chapter authors are among the most prestigious names in MCDA research, and combined their chapters bring the field completely up to date. Part I of the book considers the history and current state of MCDA, with surveys that cover the early history of MCDA and an overview that discusses the “pre-theoretical” assumptions of MCDA. Part II then presents the foundations of MCDA, with individual chapters that provide a very exhaustive review of preference modeling, along with a chapter devoted to the axiomatic basis of the different models that multiple criteria preferences. Part III looks at outranking methods, with three chapters that consider the ELECTRE methods, PROMETHEE methods, and a look at the rich literature of other outranking methods. Part IV, on Multiattribute Utility and Value Theories (MAUT), presents chapters on the fundamentals of this approach, the very well known UTA methods, the Analytic Hierarchy Process (AHP) and its more recent extension, the Analytic Network Process (ANP), as well as a chapter on MACBETH (Measuring Attractiveness by a Categorical Based Evaluation Technique). Part V looks at Non-Classical MCDA Approaches, with chapters on risk and uncertainty in MCDA, the decision rule approach to MCDA, the fuzzy integral approach, the verbal decision methods, and a tentative assessment of the role of fuzzy sets in decision analysis. Part VI, on Multiobjective Optimization, contains chapters on recent developments of vector and set optimization, the state of the art in continuous multiobjective programming, multiobjective combinatorial optimization, fuzzy multicriteria optimization, a review of the field of goal programming, interactive methods for solving multiobjective optimization problems, and relationships between MCDA and evolutionary multiobjective optimization (EMO). Part VII, on Applications, selects some of the most significant areas, including contributions of MCDA in finance, energy planning problems, telecommunication network planning and design, sustainable development, and portfolio analysis. Finally, Part VIII, on MCDM software, presents well known MCDA software packages.
Download or read book The Elgar Companion to Health Economics written by Andrew M. Jones and published by Edward Elgar Publishing. This book was released on 2012 with total page 641 pages. Available in PDF, EPUB and Kindle. Book excerpt: ÔThe Elgar Companion to Health Economics is a comprehensive and accessible look at the field, as seen by its leading figures.Õ Ð Joseph Newhouse, Harvard Medical School, US Acclaim for the first edition: ÔThis Companion is a timely addition. . . It contains 50 chapters, from 90 contributors around the world, on the topical and policy-relevant aspects of health economics. . . there is a balanced coverage of theoretical and empirical materials, and conceptual and practical issues. . . I have found the Companion very useful.Õ Ð Sukhan Jackson, Economic Analysis and Policy ÔThis encyclopedic work provides interested readers with an authoritative and comprehensive overview of many, if not all, of the current research issues in health economics. Highly recommended. Upper-level undergraduates and above.Õ Ð R.M. Mullner, Choice This comprehensive collection brings together more than 50 contributions from some of the most influential researchers in health economics. It authoritatively covers theoretical and empirical issues in health economics, with a balanced range of material on equity and efficiency in health care systems, health technology assessment and issues of concern for developing countries. This thoroughly revised second edition is expanded to include four new chapters, while all existing chapters have been extensively updated. The Elgar Companion to Health Economics, Second Edition intends to take an audience of advanced undergraduates, postgraduates and researchers to the current frontier of research by providing concise and readable introductions to key topics.
Download or read book The Foundations of Behavioral Economic Analysis written by Sanjit S. Dhami and published by Oxford University Press. This book was released on 2016 with total page 1799 pages. Available in PDF, EPUB and Kindle. Book excerpt: It considers the evidence against the exponential discounted utility model and describes several behavioral models such as hyperbolic discounting, attribute based models and the reference time theory. Part IV describes the evidence on classical game theory and considers several models of behavioral game theory, including level-k and cognitive hierarchy models, quantal response equilibrium, and psychological game theory. Part V considers behavioral models of learning that include evolutionary game theory, classical models of learning, experience weighted attraction model, learning direction theory, and stochastic social dynamics. Part VI studies the role of emotions; among other topics it considers projection bias, temptation preferences, happiness economics, and interaction between emotions and cognition. Part VII considers bounded rationality. The three main topics considered are judgment heuristics and biases, mental accounting, and behavioral finance.
Download or read book Improving Homeland Security Decisions written by Ali E. Abbas and published by Cambridge University Press. This book was released on 2017-11-02 with total page 787 pages. Available in PDF, EPUB and Kindle. Book excerpt: Are we safer from terrorism today and is our homeland security money well spent? This book offers answers and more.
Download or read book The Foundations of Behavioral Economic Analysis written by Sanjit Dhami and published by Oxford University Press. This book was released on 2019-02-14 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: This first volume of The Foundations of Behavioral Economic Analysis covers the opening topic found in this definitive introduction to the subject: the behavioral economics of risk, uncertainty, and ambiguity. It is an essential guide for advanced undergraduate and postgraduate students seeking a concise and focused text on this important subject, and examines how the decision maker chooses his optimal action in the presence of risk, uncertainty, and ambiguity. This updated extract from Dhami's leading textbook allows the reader to pursue subsections of this vast and rapidly growing field and to tailor their reading to their specific interests in behavioural economics.
Download or read book Operations and Production Systems with Multiple Objectives written by Behnam Malakooti and published by John Wiley & Sons. This book was released on 2014-02-03 with total page 1114 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first comprehensive book to uniquely combine the three fields of systems engineering, operations/production systems, and multiple criteria decision making/optimization Systems engineering is the art and science of designing, engineering, and building complex systems—combining art, science, management, and engineering disciplines. Operations and Production Systems with Multiple Objectives covers all classical topics of operations and production systems as well as new topics not seen in any similiar textbooks before: small-scale design of cellular systems, large-scale design of complex systems, clustering, productivity and efficiency measurements, and energy systems. Filled with completely new perspectives, paradigms, and robust methods of solving classic and modern problems, the book includes numerous examples and sample spreadsheets for solving each problem, a solutions manual, and a book companion site complete with worked examples and supplemental articles. Operations and Production Systems with Multiple Objectives will teach readers: How operations and production systems are designed and planned How operations and production systems are engineered and optimized How to formulate and solve manufacturing systems problems How to model and solve interdisciplinary and systems engineering problems How to solve decision problems with multiple and conflicting objectives This book is ideal for senior undergraduate, MS, and PhD graduate students in all fields of engineering, business, and management as well as practitioners and researchers in systems engineering, operations, production, and manufacturing.
Download or read book Estimation and Comparison Between Rank dependent Expected Utility Cumulative Prospect Theory and Quantum Decision Theory written by Giuseppe Ferro and published by . This book was released on 2021 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Prospect Theory written by Peter P. Wakker and published by Cambridge University Press. This book was released on 2010-07-22 with total page 519 pages. Available in PDF, EPUB and Kindle. Book excerpt: Prospect Theory: For Risk and Ambiguity, provides a comprehensive and accessible textbook treatment of the way decisions are made both when we have the statistical probabilities associated with uncertain future events (risk) and when we lack them (ambiguity). The book presents models, primarily prospect theory, that are both tractable and psychologically realistic. A method of presentation is chosen that makes the empirical meaning of each theoretical model completely transparent. Prospect theory has many applications in a wide variety of disciplines. The material in the book has been carefully organized to allow readers to select pathways through the book relevant to their own interests. With numerous exercises and worked examples, the book is ideally suited to the needs of students taking courses in decision theory in economics, mathematics, finance, psychology, management science, health, computer science, Bayesian statistics, and engineering.
Download or read book Fuzzy Decision Making Methods Based on Prospect Theory and Its Application in Venture Capital written by Xiaoli Tian and published by Springer Nature. This book was released on 2021-03-22 with total page 161 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book gives a thorough and systematic introduction to the latest research results about fuzzy decision-making method based on prospect theory. It includes eight chapters: Introduction, Intuitionistic fuzzy MADM based on prospect theory, QUALIFLEX based on prospect theory with probabilistic linguistic information, Group PROMETHEE based on prospect theory with hesitant fuzzy linguistic information, Prospect consensus with probabilistic hesitant fuzzy preference information, Improved TODIM based on prospect theory and the improved TODIM with probabilistic hesitant fuzzy information, etc. This book is suitable for the researchers in the fields of fuzzy mathematics, operations research, behavioral science, management science and engineering, etc. It is also useful as a textbook for postgraduate and senior-year undergraduate students of the relevant professional institutions of higher learning.
Download or read book Handbook Of The Fundamentals Of Financial Decision Making In 2 Parts written by Leonard C Maclean and published by World Scientific. This book was released on 2013-05-10 with total page 941 pages. Available in PDF, EPUB and Kindle. Book excerpt: This handbook in two parts covers key topics of the theory of financial decision making. Some of the papers discuss real applications or case studies as well. There are a number of new papers that have never been published before especially in Part II.Part I is concerned with Decision Making Under Uncertainty. This includes subsections on Arbitrage, Utility Theory, Risk Aversion and Static Portfolio Theory, and Stochastic Dominance. Part II is concerned with Dynamic Modeling that is the transition for static decision making to multiperiod decision making. The analysis starts with Risk Measures and then discusses Dynamic Portfolio Theory, Tactical Asset Allocation and Asset-Liability Management Using Utility and Goal Based Consumption-Investment Decision Models.A comprehensive set of problems both computational and review and mind expanding with many unsolved problems are in an accompanying problems book. The handbook plus the book of problems form a very strong set of materials for PhD and Masters courses both as the main or as supplementary text in finance theory, financial decision making and portfolio theory. For researchers, it is a valuable resource being an up to date treatment of topics in the classic books on these topics by Johnathan Ingersoll in 1988, and William Ziemba and Raymond Vickson in 1975 (updated 2nd edition published in 2006).
Download or read book A Probability Weighting Function for Cumulative Prospect Theory and Mean Gini Approach to Optimal Portfolio Investment written by Pavlo R. Blavatskyy and published by . This book was released on 2014 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents a new two-parameter probability weighting function for Tversky and Kahneman (1992) cumulative prospect theory as well as its special cases -- Quiggin (1981) rank-dependent utility and Yaari (1987) dual model. The proposed probability weighting function can be inverse S-shaped (concave near probability zero and convex near probability one), S-shaped, globally convex and globally concave. Utility function of Yaari (1987) dual model with the proposed probability weighting function is a linear tradeoff between the lottery's expected value (i.e. the first L-moment), Gini (1912) mean difference statistic (or the second L-moment, known as L-scale) and the third L-moment (measuring the lottery's skewness). Two parameters of the proposed probability weighting function can be interpreted as a decision maker's sensitivity to the dispersion and skewness of lottery's outcomes. A decision maker who prefers positively skewed distributions (e.g., a small chance to win a highly desirable outcome) and dislikes negatively skewed distributions generally has an inverse S-shaped probability weighting function. This function crosses the 45° line at a probability smaller (greater) than 0.5 if a decision maker is also averse (attracted) to the dispersion of outcomes. Cumulative prospect theory with our proposed probability weighting function can rationalize the common ratio effect (i.e. a systematic fanning-out of indifference curves) in one type of common ratio problems as well as the reverse common ratio effect (i.e. a systematic fanning-in) -- in another type of common ratio problems, in accordance with the recent experimental evidence.
Download or read book Management Science written by and published by . This book was released on 2000-09 with total page 548 pages. Available in PDF, EPUB and Kindle. Book excerpt: Issues for Feb. 1965-Aug. 1967 include Bulletin of the Institute of Management Sciences.
Download or read book Fuzzy Techniques for Decision Making 2018 written by José Carlos R. Alcantud and published by MDPI. This book was released on 2020-12-02 with total page 776 pages. Available in PDF, EPUB and Kindle. Book excerpt: Zadeh's fuzzy set theory incorporates the impreciseness of data and evaluations, by imputting the degrees by which each object belongs to a set. Its success fostered theories that codify the subjectivity, uncertainty, imprecision, or roughness of the evaluations. Their rationale is to produce new flexible methodologies in order to model a variety of concrete decision problems more realistically. This Special Issue garners contributions addressing novel tools, techniques and methodologies for decision making (inclusive of both individual and group, single- or multi-criteria decision making) in the context of these theories. It contains 38 research articles that contribute to a variety of setups that combine fuzziness, hesitancy, roughness, covering sets, and linguistic approaches. Their ranges vary from fundamental or technical to applied approaches.
Download or read book Making Prospect Theory Fit for Finance written by and published by . This book was released on 2005 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Behavioral Decision Theory written by Kazuhisa Takemura and published by Springer Nature. This book was released on 2021-09-29 with total page 389 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is the second edition of Behavioral Decision Theory, published in 2014. The main approach and structure of this book have been retained in the new edition. However, this second edition provides a fresh overview of the idea of behavioral decision theory and related research findings such as theoretical and empirical discoveries of preference formation, time discounting, social interaction, and social decision making. The book covers a wide range from classical to relatively recent major studies concerning behavioral decision theory, which, in brief, is a general term for descriptive theories to explain the psychological knowledge related to people’s decision-making behavior. It is called a theory but is actually a combination of various psychological theories, for which no axiomatic systems—such as those associated with the utility theory widely used in economics—have been established. The utility theory is often limited to qualitative knowledge; however, as the studies of Nobel laureates H. A. Simon, D. Kahneman, and R. Thaler have suggested, the psychological methodology and knowledge of behavioral decision theory have been applied widely in such fields as economics, business administration, and engineering and are expected to become even more useful in the future. Research into people’s decision making represents an important part in those fields, various aspects of which overlap with the scope of behavioral decision theory. This theory is closely related to behavioral economics and behavioral finance, which have come into greater use in recent years. This book will appeal especially to graduate students, advanced undergraduate students, and researchers who are interested in decision-making phenomena.
Download or read book Prospect Theory written by Daniel Kahneman and published by . This book was released on 1979 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt:
