In this study, multi-feature optimization is performed using a hybrid approach of utility theory (UT) combined with the … collection is used to evaluate the effects of the pulse on time, pulse off time, peak current, servo voltage, wire feed rate and … cable tension on surface roughness (SR), overcut and metal removal rate (MRR). The utility concept is employed to turn the …

Purpose – Traditional finance theory have developed on the basis of expected utility theory and assumes that investors … assumptions on which expected utility theory are based. However, existing studies on this matter have mainly focused on capital … samples, this paper aims to explore the reliability of the invariance assumption of people's behaviour under expected utility …

presented in this paper is based on the fuzzy utility theory. It uses utility theory and fuzzy membership functions for the … assessment of severity, occurrence, and detection. The utility theory accounts for the nonlinear relationship between the cost …

support for a decision‐making model, which serves an alternative to expected utility theory. Design …/methodology/approach – Using a natural decision‐making setting, 578 participants completed a one time study using questionnaires attempting to test …Purpose – The purpose of this research is to show that new conceptual work in the judgment and decision‐making research …

general success factors of time, cost and quality. Then a multi‐attribute utility function is applied to integrate these … be used in research centers for evaluating the performance of research projects by using multiple attribute utility … could be evaluated are identified by Delphi method and group decision making. These measures are categorized into three …

Purpose – To investigate the application of multi‐attribute utility theory (MAUT) to aid in the decision‐making process … warehouse metrics of picking and inventory accuracy, storage speed, and order cycle time. Inventory and picking tolerances are … performance gaps for each metric. The gap analysis results are then compared to the MAUT utility values, and a sensitivity …

decision maker (DM) when allowed to acquire n pieces of information from a set of bi-dimensional products whose characteristics …

/methodology/approach – Contrary to traditional models which treat fairness as a variable of the utility function, the paper takes fairness as a … constraint to the utility function. The problem is solved through the standard incentive theory and bargaining theory. Findings …

Empirically observed violations of traditional expected utility theory have prompted several new theories, putting the … future of decision analysis at the crossroads. This essay describes the current status of the literature through selected … examples of decision making scenarios. It concludes that if all relevant consequences of all alternatives are included in the …