Title: Decision making with attitudinal based expected values

Authors: Kurt J. Engemann, Holmes E. Miller, Ronald R. Yager

Addresses: Department of Information and Decision Technology Management, Iona College, New Rochelle, NY 10801, USA. ' Department of Business Administration, Muhlenberg College, Allentown, PA 18104, USA. ' Machine Intelligence Institute Iona College, New Rochelle, NY 10801, USA

Abstract: We provide the conceptual framework for attitudinal based expected values for continuous random variables. We introduce a new methodology to allow the decision maker to incorporate his own disposition with objective information in a risk environment. We provide an extension of the OWA operator to the case in which our argument is a continuous valued interval rather than a finite set of values. We look at some examples of this type of aggregation. We propose a method of incorporating the relative value of an alternative|s intangible factors into the decision process.

Keywords: expected value; attitudinal based expected value; ordered weighted averaging operator; attitudinal generating function; attitudinal characteristics; decision analysis; information technology; decision making; continuous random variables; intangible factors.

DOI: 10.1504/IJTPM.2004.006617

International Journal of Technology, Policy and Management, 2004 Vol.4 No.4, pp.353 - 364

Available online: 28 Mar 2005 *

Full-text access for editors Access for subscribers Purchase this article Comment on this article