We present a new decision-making approach that uses distance measures and induced aggregation operators. We introduce the induced ordered weighted averaging distance (IOWAD) operator, a new aggregation operator that extends the OWA operator by using distance measures and a reordering of the...

The index of maximum and minimum level is a very useful technique, especially for decision making, which uses the Hamming distance and the adequacy coefficient in the same problem. In this paper, we suggest a generalization by using generalized and quasi-arithmetic means. As a result, we will...

We study the induced aggregation operators. The analysis begins with a revision of some basic concepts such as the induced ordered weighted averaging (IOWA) operator and the induced ordered weighted geometric (IOWG) operator. We then analyze the problem of decision making with Dempster-Shafer...

This paper reports results from an economic experiment where respondents are asked to make choices between risky outcomes for themselves and others. In addition, we elicit information about the respondents’ perception of others risk preferences. We investigate whether subjects’ own risk...

Suppose you are interested in the level of a state variable (e.g. a disease is present or absent or of a pre-specified level of severity, or a failure is recorded or not, etc.) and have a potentially useful but imperfect diagnostic test method, (e.g. a blood test result for this disease, or a...

In this paper, we defend the idea of the potential existence of equilibrium in personal income distribution in Germany. This concept can be motivated by two different approaches: One is a status theory put forward by Gerold Blümle, the other is a sort of hybrid variant of the prospect theory,...

A number of competing social preference models have been developed inspired by the evidence from economic experiments. We test the relative performance of some of these models using an experimental design that is aimed at capturing pure distributional concerns in a multi-person setting. We find...

By using hypothetical choice experiments, this paper presents evidence that individuals' concern for relative consumption depends on their relative consumption. Individuals with consumption levels above society's average consumption level tend to have, in general, lower concern for relative...

Credence goods markets are characterized by asymmetric information between sellers and consumers that may give rise to inefficiencies, such as under- and overtreatment or market break-down. We study in a large experiment with 936 participants the determinants for efficiency in credence goods...

In the vast majority of laboratory experiments documenting the existence of reciprocity subjects are endowed with windfall funds. In many environments with salient fairness considerations such endowments are known to inflate subjects’ other-regarding behavior, thereby creating a so-called...