DECISION-MAKING UNDER UNCERTAIN CONDITIONS AND FUZZY PAYOFF MATRIX

Authors

  • Stefan Forlicz Wrocław School of Banking
  • Zygmunt Przybycin Wrocław School of Banking

DOI:

https://doi.org/10.29015/cerem.194

Abstract

The paper has addressed a decision-making problem under imperfect information conditions. A decision-making problem and the types of imperfect information have been defined. Fuzzy information has been distinguished among this information. The criteria of decision-making under uncertain conditions for real and fuzzy payoff matrices have been discussed. Furthermore, attention has been paid to advantages and disadvantages of fuzzy logics in the decision-making process.

References

Forlicz, S. (1997). Economic Aspects of Imperfect Information Gathering (outline of problems), [in:] Materials from 33rd Conference of Statisticians, Econometrics Specialists, Mathematicians from Southern Poland, PN AE in Wrocław No 771. Wrocław, pp. 111-117.

Kacprzyk J. (1986). Fuzzy Sets in the System Analysis. Warsaw: PWN.

Łachwa A. (2001). Fuzzy World of Sets, Numbers, Relations, Facts, Rules and Decisions. Warsaw: EXIT.

Miller D.W., Starr M.K. (1971). Practice and Theory of Decisions. Warsaw: PWN.

Przybycin Z. (2011). Managing the Risk of Capital Investments under Conditions of unclear Information – Fuzzy VaR, ZN UE in Katowice. Katowice.

Przybycin Z., Forlicz S. (2013). Decision making under conditions of fuzzy information on the states of nature, United Europe: Future prospects. Dnipropietrovsk, pp.165-169.

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Issue

Vol. 15 No. 5 (2015)

Section

Articles

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