-averse decision-maker. Modelling an expected utility maximizing decision maker, the problem is formulated as a risk-sensitive Markov … decision process. Special emphasis is put on the existence of structured optimal policies. Numerical examples illustrate the …Traditionally, revenue management models aim at a maximization of expected revenue, i.e. a risk-neutral decision …

economists model decision-making, how behavioral economics failed to correct them, and how they led to the problems with …

This textbook is about three key aspects of system design: decision making under uncertainty, trade-off studies and … functions, quantitative metrics, prioritization and sensitivity analyses. Furthermore, human decision-making activities and … problems use these same tools. Therefore, these problems are also treated uniformly and modeled using prospect theory. Aimed at …

This book presents classical Markov Decision Processes (MDP) for real-life applications and optimization. MDP allows … users to develop and formally support approximate and simple decision rules, and this book showcases state … Policies In Mdps With Unbounded Jumps: The State Of Our Art -- Markov Decision Processes For Screening And Treatment Of Chronic …