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The standard model of rational risky decision-making

Falahati, Kazem - In: Journal of risk and financial management : JRFM 14 (2021) 4, pp. 1-22

Expected utility theory (EUT) is currently the standard framework which formally defines rational decision-making under risky conditions. EUT uses a theoretical device called von Neumann-Morgenstern utility function, where concepts of function and random variable are employed in their...

Persistent link: https://www.econbiz.de/10012520657

Agent-based modeling for decision making in economics under uncertainty

Vermeulen, Ben; Pyka, Andreas - 2016

Ever since the emergence of economics as a distinct scientific discipline, policy makers have turned to economic models to guide policy interventions. If policy makers seek to enhance growth of an open capitalist economy, they have to take into account, firstly, the uncertainties,...

Persistent link: https://www.econbiz.de/10011422415

Agent-based modeling for decision making in economics under uncertainty

Vermeulen, Ben; Pyka, Andreas - 2015

Persistent link: https://www.econbiz.de/10011281255

Optimal staffing of specialized programme trainess under uncertainty

Özdemir-Akyıldırım, Öznur; Talay-Değirmenci, Işılay - In: Journal of the Operational Research Society : OR 66 (2015) 1, pp. 66-75

Persistent link: https://www.econbiz.de/10010483536

An Introduction to Robust Combinatorial Optimization : Concepts, Models and Algorithms for Decision Making under Uncertainty

Goerigk, Marc; Hartisch, Michael - 2024

Combinatorial Problems -- 10. Other Models for Robust Optimization -- 11. Open Problems. …This book offers a self-contained introduction to the world of robust combinatorial optimization. It explores decision …-making using the min-max and min-max regret criteria, while also delving into the two-stage and recoverable robust optimization …