EXPECTED UTILITY BASED DECISION MAKING UNDER Z-INFORMATION

摘要

Decision making theories are based on decision relevant information much of which is uncertain, imprecise or incomplete. An important qualitative attribute of information on which decisions are based is its reliability. The concept of Z-number relates to the issue of reliability of information, especially in the realms of economics and decision analysis. In this study we suggest Z-information based decision-making method which is more realistic in comparison with the existing methods. An example of investment problem is used to illustrate the proposed approach.