Decision making in fuzzy environment

We demonstrate that fuzzy models offer not only a more realistic modeling of decision situations but in addition lead to a reduction of information costs if an interactive solution process is used. That circumstance is caused by the fact that additional information is gathered in correspondence to the requirements and under consideration of cost-benefit-relations. The focus of this paper is concentrated on the use of fuzzy utilities (fuzzy results) and fuzzy probabilities because these fuzzy components are important for practical applications. Here, vague data are modeled as fuzzy intervals of the ε-λ-type, which proved to be suited in practical applications and offer the calculation of fuzzy utilities with little effort.