Preference Modelling Approaches Based on Cumulative Function
Khwazbeen Saida Fatah
Broschiertes Buch

Preference Modelling Approaches Based on Cumulative Function

Using Simulation

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In decision making problems under uncertainty, Mean Variance Model (MVM) consistent with Expected Utility Theory (EUT) plays an important role in ranking preferences for various alternative options. Despite its wide use, this model is appropriate only when random variables representing the alternative options are normally distributed and the utility function to be maximized is quadratic; both are undesirable properties to be satisfied with actual applications. This book provides new approaches for Mean Variance Model based on cumulative functions using simulation. It introduces an integrated p...