While the auxiliary services required for the operation of power plants are not the main components of the plant, their energy consumption is often significant, and it can be reduced by implementing a series of improvement strategies. However, the cost of implementing these changes can be very high, and has to be evaluated. Indeed, a further economic analysis should be considered in order to ma...

We develop a theory of quantum rational decision making in the tradition of Anscombe and Aumann’s axiomatisation of preferences on horse lotteries. It is essentially the Bayesian decision theory generalised to the space of Hermitian matrices. Among other things, this leads us to give a representation theorem showing that quantum complete rational preferences are obtained by means of expected ut...

W develop, estimate, and test a response model of order timing and order volume decisions of catalog customers and derive a Bayes rule for optimal mailing strategies. The model integrates the when and how much components of the response; incorporates the mailing decision of the firm; and uses a Bayesian framework to determine the optimal mailing rule for each catalog customer. The Bayes rule we...

We develop a theory of quantum rational decision making in the tradition of Anscombe and Aumann’s axiomatisation of preferences on horse lotteries. It is essentially the Bayesian decision theory generalised to the space of Hermitian matrices. Among other things, this leads us to give a representation theorem showing that quantum complete rational preferences are obtained by means of expected ut...

This paper presents a new axiomatic decision theory for choice under uncertainty. Unlike Bayesian decision theory where uncertainty is represented by a probability function, in our theory, uncertainty is given in the form of a likelihood function extracted from statistical evidence. The likelihood principle in statistics stipulates that likelihood functions encode all relevant information obtai...

resource allocation techniques have recently appeared as a widely recognized feature in lte networks. most of existing approaches in resource allocation focus on maximizing network’s utility functions. the great potential of utility function in improving resource allocation and enhancing fairness and mean opinion score (mos) indexes has attracted large efforts over the last few years. in this p...

Ken Binmore needs no introduction to readers of this Journal. In Rational Decisions, this mathematician turned economist turned philosopher combines brief introductions to Bayesian decision theory and game theory with a far-reaching and synthetic assessment of the limits of Bayesian decision theory and offer new directions in extending decision theory to situations where the traditional approac...