: This paper develops a theory of probabilistic models for risky choices. Part of this theory can be viewed as an extension of the expected utility theory to account for bounded ra...
We discuss several features of coherent choice functions – where the admissible options in a decision problem are exactly those which maximize expected utility for some probabil...
Teddy Seidenfeld, Mark J. Schervish, Joseph B. Kad...
We analyze a model of irreversible investment with two sources of uncertainty. A riskneutral decision maker has the choice between two mutually exclusive projects under input pric...
Proposed and developed is a service composition framework for decision-making under uncertainty, which is applicable to stochastic optimization of supply chains. Also developed is ...
This paper studies the impact of competition on a firm’s choice of technology (product-flexible or product-dedicated) and capacity investment decisions. Specifically, we mode...