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Decision Analysis under Partial Information

  • Vladislav V. Podinovski
  • Victor V. Podinovski
Part of the Lecture Notes in Economics and Mathematical Systems book series (LNE, volume 465)

Abstract

The use of partial (incomplete) qualitative data in multiple criteria decision making problems under uncertainty is considered. It is assumed that the preferences of a decision maker (DM) between certain consequences and the probabilities of the uncertain factor values are given in the form of binary relations. The following three main issues are addressed. First, the DM’s preference relation for uncertain consequences is deduced from the available information. Secondly, we discuss how this, normally partial, preference relation can be further extended given the information about the DM’s attitude towards risk. Thirdly, we show how the available qualitative information can be used in conjunction with the maxmin optimality principle.

Keywords

Multiple criteria uncertainty qualitative probability preference relations lexicographic maxmin 

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Copyright information

© Springer-Verlag Berlin Heidelberg 1998

Authors and Affiliations

  • Vladislav V. Podinovski
    • 1
  • Victor V. Podinovski
    • 2
  1. 1.Academy of Labour and Social RelationsMoscowRussia
  2. 2.Warwick Business School, University of WarwickCoventryUK

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