This paper explores the differences in observed risk propensity among petroleum firms and their impact on firm performance. In this work, we (1) develop a decision theoretic model which measures a firm's risk propensity in the form of an "implied" utility function; (2) investigate changes in...

In many decision problems, the consequences of an action may impact several individuals, and the decision may be based on the preferences of those who are affected. The rule for aggregating these individual preferences is called a group preference aggregation rule. In this paper we present a...

This paper describes a study performed to investigate the use of the Nash Bargaining Model in the selection of a trajectory for the Mariner Jupiter/Saturn 1977 (MJS77) Project spacecraft in the vicinity of Titan, the largest satellite of Saturn. This effort was exploratory in nature with the...

Based on our previous work on the standard measure of risk, this paper presents two classes of measures for perceived risk by decomposing a lottery into its mean and standard risk. One of the classes of our risk measures presumes that there is no risk when there is no uncertainty involved, and...

This paper discusses a utility function estimation procedure developed to provide curriculum planning information to elementary school principals. Both theoretical and empirical studies were performed to evaluate the procedure. The results of the use of this approach to obtain data from a...

This paper describes the development of an operations management model and its implementation in a simulation mode in order to study the effects of alternative organizational designs and person/work assignment criteria on the utilization of the technological and human resources of a firm. The...

This paper is an update of a paper that five of us published in 1992. The areas of multiple criteria decision making (MCDM) and multiattribute utility theory (MAUT) continue to be active areas of management science research and application. This paper extends the history of these areas and...