Title :
An Abbreviated States of the World Decision Model
Author :
Fishburn, Peter C.
Author_Institution :
Advanced Research Department, Research Analysis Corporation, McLean, Va. 22101
Abstract :
Terminal acts and states of the world are specified, but detailed consequences may not be explicitly listed in an abbreviated states model. Axiomatic analyses of this model, with and without experimentation prior to the selection of a terminal act, are presented. In the abbreviated model, state probabilities are not defined, but the analysis is similar in many ways to more specialized models that permit derivations of state probabilities.
Keywords :
Communication system control; Costs; Information analysis; Investments; Petroleum; Risk analysis; Risk management; Statistics; Uncertainty; Utility theory;
Journal_Title :
Systems Science and Cybernetics, IEEE Transactions on
DOI :
10.1109/TSSC.1968.300123