According to the axiomatic foundations of social choice theory, not all decisions benefit everyone. Often, that do have any implied for decision maker are made in (best) interests others. When a is concerning welfare others, some individuals - including maker, may be on receiving end. For, it impossible make by taking into account individual preferences satisfy and This because great variety ch...

This paper proposes an optimized hybrid process of the Analytic Hierarchy Process with Simple Additive Weighting method for hotel decision-making. study is important as many sectors including tourism are striving in post-pandemic era. The proposed hypothesis proven through a case selection which included four factors criteria decision-making, namely price, facilities, class, and location. suppo...

evaluating and selecting alternatives investment projects needs considering all relevant and important aspects. in traditional methods, the focus is just on tangible monetary criteria. also in the traditional methods, either all the information’s about factors must be known precisely or sufficient objective data must be available for applying probability theory. in this paper, a combinative app...

We briefly introduce and discuss some criteria for optimal decisions. For the majority of this module, we consider a person’s utility for different options (or ‘rewards’ or ‘actions’) and, with uncertainty about the reward which will follow a specific decision, we aim at maximisation of the expected utility, which is actually the utility of the optimal decision (note that a decision is a gamble...