The Effects of Perfect and Sample Information on Fuzzy Utilities in Decision-Making

In this paper, we first consider a Bayesian frame­ work and model the "utility function" in terms of fuzzy random variables. On the basis of this model, we define the "prior (fuzzy) expected util­ ity" associated with each action, and the cor­ responding "posterior (fuzzy) expected utility given sample information from a random exper­ iment". The aim of this paper is to analyze how sample information can affect the expected util­ ity. In this way, by using some fuzzy preference relations, we conclude that sample information allows a decision maker to increase the expected utility on the average. The upper bound on the value of the expected utility is when the decision maker has perfect information. Applications of this work to the field of artificial intelligence are presented through two examples.