A qualitative axiomatization of a generalization of expected utility theory is given in which the expected value of simple gambles is not necessarily the product of subjective probability and utility. Representation and uniqueness theorems for these generalized structures are derived for both Archimedean and nonarchimedean cases. It is also shown that a simple condition called distributivity is...

P and time are integral dimensions of virtually any decision. To treat them together, we consider the prospect of receiving outcome x with a probability p at time t. We define risk and time distance, and show that if these two distances are traded off linearly, then preferences are characterized by three functions: a value function, a probability discount rate function, and a psychological dist...

The idea that developing countries face a trade-off between poverty and inequality has had considerable influence on thinking about development policy. The experience of developing countries in the 1990s does not, however, reveal any sign of a systematic trade-off between measures of absolute poverty and relative inequality. Indeed, falling inequality tends to come with falling poverty incidenc...

Time-cost trade-off is one of the most important subjects in project management and of interest to contractors. The goal of time-cost trade-off is sensivity analysis of project costs to changes in activity duration in order to obtain the best combination of activity duration decrease, in a way that the sum of project costs is minimized. In the heuristics presented in this area, time crashing is...

the concept of decision making, factors influencing it and the related outcomes have always attracted researchers. the purpose of this study is to investigate the effect of sacred values on decision making, decision difficulty and the resulting negative emotions. thus, a sample of 288 students from the university of guilan were chosen as subjects and were required to complete a standard questio...

This paper draws attention to project trade-offs significance in project management and critically reviews the current state of the knowledge on the elements to be considered and the methods to resolve trade-off decisions. Traditionally the elements to be considered in trade-offs are mainly limited to time and cost and to some extent quality or risk or the well-known Project Triangle. The trade...

Time-cost trade-off is one of the most important subjects in project management and of interest to contractors. The goal of time-cost trade-off is sensivity analysis of project costs to changes in activity duration in order to obtain the best combination of activity duration decrease, in a way that the sum of project costs is minimized. In the heuristics presented in this area, time crashing is...

The analysis of trade-offs between competitive priorities is one of the core issues in manufacturing strategy research. However, past studies focused mainly on empirical validation of the trade-off concept. There has been limited research on practical aspects of trade-off management, especially methods for trade-off improvement and the incorporation of trade-off analysis into manufacturing stra...