A second-order-based decision tool for evaluating decisions under conditions of severe uncertainty

• The requirement to assign precise numerical values to model entities such as criteria weights, probabilities, and utilities is too strong in most real-life decision situations, and hence alternative representations and evaluation mechanisms are important to consider. In this paper, we discuss the DecideIT 3.0 state-of-the-art software decision tool and demonstrate its functionality using a real-life case. The tool is based on a belief mass interpretation of the decision information, where the components are imprecise by means of intervals and qualitative estimates, and we discuss how multiplicative and additive aggregations influence the resulting distribution over the expected values.

Subject headings

NATURVETENSKAP  -- Data- och informationsvetenskap -- Annan data- och informationsvetenskap (hsv//swe)

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

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

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

Keyword

Decision analysis

Decision software

Imprecise criteria weights

Imprecise probabilities

data- och systemvetenskap

Computer and Systems Sciences

Publication and Content Type

ref (subject category)

art (subject category)