Modifications of the Maximin Joy Criterion for Decision Making under Uncertainty

Helena Gaspars-Wieloch

Abstract

Decision making under uncertainty (DMU) occurs when the decision maker (DM) has to choose an appropriate alternative on the basis of a set of decisions and a set of scenarios (with an unknown probability distribution). The author suggests two modifications of the maximin joy criterion (MJC) - one of the classical decision rules used in DMU by pessimists searching for an optimal pure strategy. The goal of the alterations for MJC is to accentuate more effectively the position of particular outcomes in comparison with other outcomes connected with a given scenario.
Author Helena Gaspars-Wieloch (WIiGE / KBO)
Helena Gaspars-Wieloch,,
- Department of Operations Research
Journal seriesMetody Ilościowe w Badaniach Ekonomicznych, ISSN 2082-792X, e-ISSN 2543-8565, (B 9 pkt)
Issue year2014
VolXV
No2
Pages84-93
Publication size in sheets0.5
Keywords in Englishdecision making under uncertainty, optimal pure strategy, maximin joy criterion, payoff matrix
URL http://qme.sggw.pl/wp-content/uploads/MIBE_T15_z2.pdf#page=84&view=Fit
Languageen angielski
Score (nominal)9
Score sourcejournalList
ScoreMinisterial score = 8.0, 17-12-2019, ArticleFromJournal
Ministerial score (2013-2016) = 9.0, 17-12-2019, ArticleFromJournal
Publication indicators WoS Citations = 3
Citation count*11 (2020-11-27)
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