Non-uniform belief in expected utilities in interval decision analysis

• This paper demonstrates that second-order calculations add information about expected utilities when modeling imprecise information in decision models as intervals and employing the principle of maximizing the expected utility. Furthermore, due to the resulting warp in the distribution of belief over the intervals of expected utilities, the conservative Γ-maximin decision rule seems to be unnecessarily conservative and pessimistic as the belief in neighborhoods of points near interval boundaries is significantly lower than in neigh-borhoods near the centre. Due to this, a generalized expected utility is proposed.

Ämnesord

TEKNIK OCH TEKNOLOGIER  -- Elektroteknik och elektronik -- Datorsystem (hsv//swe)

ENGINEERING AND TECHNOLOGY  -- Electrical Engineering, Electronic Engineering, Information Engineering -- Computer Systems (hsv//eng)

NATURVETENSKAP  -- Data- och informationsvetenskap -- Datavetenskap (hsv//swe)

NATURAL SCIENCES  -- Computer and Information Sciences -- Computer Sciences (hsv//eng)

Nyckelord

Artificial intelligence

Boundary conditions

Information analysis

Mathematical models

Interval boundaries

Interval decision analysis

Principle of maximizing

Decision theory

Computer science

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