This paper provides two axiomatic derivations of a case-based decision rule. Each axiomatization shows that, if preference orders over available acts in various contexts satisfy certain consistency requirements, then these orders can be numerically represented by maximization of a similarity-weighted utility function. In each axiomatization, both the similarity function and the utility function...

It is argued that the Allais paradox reveals a certain property of the decision scheme we use to determine the preference of one lottery over another. The decision scheme is based on the use of similarity relations on the probability and prize spaces. It is proved that for every pair of similarity relations there is essentially only one preference consistent with the decision scheme and the sim...

scott and szewczyk in technometrics, 2001, have introduced a similarity measure for twodensities f1 and f2 , by1, 21 21 1 2 2( , ), ,f fsim f ff f f f< >=< >< >wheref1, f2 f1(x, θ1)f2(x, θ2)dx.+∞−∞< >=∫sim(f1, f2) has some appropriate properties that can be suitable measures for the similarity of f1 and f2 .however, due to some restrictions on the value of parameters and the kind of densities, ...

There have been numerous attempts at the formation of regional policy groupings within Latin America and the Caribbean (LAC). This paper analyses the similarities in macroeconomic policies pursued by member countries using realised correlation analysis on 26 LAC countries and observations covering the period 1970–2005. The study finds evidence of co-movement in monetary, fiscal, trade and capit...

There are significant differences among the European Union regions, which have been heightened due to the most recent enlargement in 2004. This paper aims to analyse this diversity and to propose a classification of European regions that is adjusted to the different axes of socio-economic development and, simultaneously, is useful for European regional policy purposes. Multivariate statistical ...

This paper examines the trends in strategic technology partnering (STP) by firms from developing countries over the period 1980-94. The evidence shows that a small group of countries, namely the Asian NICs and Eastern Europe dominate STP activity. We also examine differences in organisational modes and how these have evolved over time, suggesting an increasing similarity between the NICs and Tr...

The paper presents a multi-factor decision-making approach for prioritizing failure modes as an alternative to traditional approach of failure mode and effect analysis (FMEA). The approach is based on the ‘technique for order preference by similarity to ideal solution’ (TOPSIS). The priority ranking is formulated on the basis of six parameters (failure occurrence, non-detection, maintainability...