Title :
A new decision-making method based on a typical utility function
Author :
Xiaoping Qiu ; Ming Jian ; Fei Wei ; Yingbo Li
Author_Institution :
Sch. of Transp. & Logistics, Southwest Jiaotong Univ., Chengdu, China
Abstract :
A decision-making method based on a utility function which gives consideration to the risk and time preference is proposed in this paper. Firstly the long-term goal and the current task are taken into account in the initial utility function. Then the primary and the secondary factors for the current task are described in the extensive utility function for better practicability. Then the influences of the risk deviation, the future revenue and the cost in decision making are discussed..
Keywords :
decision making; risk management; decision making method; risk deviation; risk preference; time preference; utility function; Abstracts; Utility theory; Decision-making; Long-term goal; Utility function;
Conference_Titel :
Machine Learning and Cybernetics (ICMLC), 2013 International Conference on
Conference_Location :
Tianjin
DOI :
10.1109/ICMLC.2013.6890890