In selecting the preferred course of action, decision makers are often uncertain about one or more probabilities of interest. The experimental literature has ascertained that this uncertainty (ambiguity) might affect decision makers’ preferences. Then, the decision maker might wish to...

Substantial evidence indicates that information is distorted during decision making. However, no studies have assessed the distortion of outcome and probability information in risky decisions or the effects of ambiguity on information distortion. We report two studies involving six binary...

Substantial evidence indicates that information is distorted during decision making. However, no studies have assessed the distortion of outcome and probability information in risky decisions or the effects of ambiguity on information distortion. This paper reports two studies involving six...

Mobile information and communication technologies (ICT) promise to significantly transform enterprises, their business processes and services, improve employee productivity, effectiveness, and efficiency, and create new competitive advantages and business agility. Despite the plethora of...

Derivamos las condiciones para la elección óptima de cartera bajo una utilidad con aversión al riesgo relativo constante y distribuciones de probabilidad alternativas que son capaces de capturar las caraterísticas de asimetría y curtosis de los rendimientos de los activos financieros....

This dissertation studies strategies to mitigate the risks associated with operational and strategic decisions of a firm, particularly focusing on project management, product development and procurement decisions. In the first essay we develop two simulation-based methods to evaluate risky...

We have analyzed the application of decision analysis and risk management tools to solve practical problems associated with Climate Change and Risk Detection in the financial services industry. Geoengineering, which is described as an intentional modification of earth’s environment to mitigate...

This paper merges the non-expected utility approach (Tversky and Kahneman, J Risk Uncertain 5:297–323, <CitationRef CitationID="CR17">1992</CitationRef> and Quiggin, J Econ Behav Organ 3:323–343, <CitationRef CitationID="CR14">1982</CitationRef>) into Akerlof’s (Quart J Econ 84:488–500, <CitationRef CitationID="CR2">1970</CitationRef>) model of Market for Lemons. We derive the results for different probability...</citationref></citationref></citationref>

Let A be a nonempty finite subset of the plane representing the geographical coordinates of a set of demand points (towns, …), to be served by a facility, whose location within a given region S is sought. Assuming that the unit cost for a∈A if the facility is located at x∈S is proportional...

Water resources management can be regarded as an iterative process of general decision making considering the applications and modifications of waters and related lands within a geographic region. This process helps decision makers to balance their diverse requirements and applications of water...