Decision Making Under Partial Probability Information

Celik Parkan;Wang Lianfen

Systems Engineering - Theory & Practice ›› 1997, Vol. 17 ›› Issue (2) : 24-33.

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PDF(448 KB)
Systems Engineering - Theory & Practice ›› 1997, Vol. 17 ›› Issue (2) : 24-33. DOI: 10.12011/1000-6788(1997)2-24
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Decision Making Under Partial Probability Information

  • Celik Parkan1, Wang Lianfen2
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Abstract

Parkan (EJOR,1994) proposed a linear programming based approch to determine the efficient strategies of a decision problem under partial probability information.In the present paper we will provide a review of Parkan’s approach and propose a convex cone model to identify the efficient strategies in a decision making situation where DMs involved declare their perceived relative likelihood of the occurrences of the states by pariwise comparisons.Since this approach can be used in group decisions and requires less precise probability information from the decision makers than in Parkan 1994 method, it has greater practical appeal and application potential.

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Celik Parkan , Wang Lianfen. Decision Making Under Partial Probability Information. Systems Engineering - Theory & Practice, 1997, 17(2): 24-33 https://doi.org/10.12011/1000-6788(1997)2-24
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