Publication details for Matthias TroffaesTroffaes, Matthias C.M. (2007). Decision making under uncertainty using imprecise probabilities. International Journal of Approximate Reasoning 45(1): 17-29.
- Publication type: Journal Article
- ISSN/ISBN: 0888-613X
- DOI: 10.1016/j.ijar.2006.06.001
- Keywords: Decision; Optimality; Uncertainty; Probability; Maximality; E-admissibility; Maximin; Lower prevision
- Further publication details on publisher web site
- Durham Research Online (DRO) - may include full text
Author(s) from Durham
Various ways for decision making with imprecise probabilities—admissibility, maximal expected utility, maximality, E-admissibility, Gamma-maximax, Gamma-maximin, all of which are well known from the literature—are discussed and compared. We generalise a well-known sufficient condition for existence of optimal decisions. A simple numerical example shows how these criteria can work in practice, and demonstrates their differences. Finally, we suggest an efficient approach to calculate optimal decisions under these decision criteria.