New approach to decision making (DM) -evaluation of DM by not choice but preference of alternatives

Research output: Chapter in Book/Report/Conference proceedingConference contribution

Abstract

Traditionally, the DM process under uncertainty was explored using the DM paradigm to choose one from two or more alternatives, and human’s irrational DM was modeled using a variety of cognitive biases such as certainty effect or common ratio effect. However, until now, no attempt has been made to generalize such a DM process. Moreover, there are many cases where it is difficult to choose one of the two alternatives. When the preference of each alternative is nearly equal, it is difficult to make decision on which alternative to take. This forces us to loose important information that is necessary for investigating more detailed characteristics of DM process. In such a case, it is recommended that the preference for each alternative should be expressed numerically. Such an evaluation of alternatives has not been tried until now. This study attempted to propose a new approach to decision making process to get more into the insight of the DM process.

Original languageEnglish
Title of host publicationAdvances in Cross-Cultural Decision Making - Proceedings of the AHFE 2017 International Conference on Cross-Cultural Decision Making, 2017
PublisherSpringer Verlag
Pages54-63
Number of pages10
Volume610
ISBN (Print)9783319607467
DOIs
Publication statusPublished - 2018
EventAHFE 2017 International Conference on Cross-Cultural Decision Making, 2017 - Los Angeles, United States
Duration: Jul 17 2017Jul 21 2017

Publication series

NameAdvances in Intelligent Systems and Computing
Volume610
ISSN (Print)2194-5357

Other

OtherAHFE 2017 International Conference on Cross-Cultural Decision Making, 2017
CountryUnited States
CityLos Angeles
Period7/17/177/21/17

Keywords

  • Behavioral economics
  • Choice of alternative
  • Decision making (DM)
  • Detailed process of DM
  • Preference of alternative

ASJC Scopus subject areas

  • Control and Systems Engineering
  • Computer Science(all)

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