Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/334044 
Year of Publication: 
2021
Citation: 
[Journal:] Asian Journal of Economics and Banking (AJEB) [ISSN:] 2633-7991 [Volume:] 5 [Issue:] 1 [Year:] 2021 [Pages:] 79-85
Publisher: 
Emerald, Leeds
Abstract: 
Purpose - In many real-life situations, we do not know the exact values of the expected gain corresponding to different possible actions, we only have lower and upper bounds on these gains - i.e., in effect, intervals of possible gain values. The purpose of this study is to describe all possible ways to make decisions under such interval uncertainty. Design/methodology/approach - The authors used both natural invariance and additivity requirements. Findings - The authors demonstrated that natural requirements - invariance or additivity - led to a twoparametric family of possible decision-making strategies. Originality/value - This is a first description of all reasonable strategies for decision-making under interval uncertainty - strategies that satisfy natural requirements of invariance or additivity.
Subjects: 
Decision-making
Invariance
Interval uncertainty
Additivity
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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