Understanding the attitude to risk implicit within a risk measure sheds some light on the way in which decision makers perceive losses. In this paper, a two-stage strategy is developed to characterize the underlying risk attitude involved in a risk evaluation, when executed by the family of distortion risk measures. First, we show that aggregation indicators defined for discrete Choquet integra...

We present a preference foundation for Chance Theory (CT), a model of decision making under uncertainty where the evaluation of an act depends distinctively on its lowest outcome. This outcome is evaluated with the riskless value function  and the potential increments over it are evaluated by subjective expected utility with a risky utility function . In contrast to earlier approaches with mo...

In this study, a semi-infinite interval-stochastic risk management (SIRM) model is developed for river water pollution control, where various policy scenarios are explored in response to economic penalties due to randomness and functional intervals. SIRM can also control the variability of the recourse cost as well as capture the notion of risk in stochastic programming. Then, the SIRM model is...

projects execution is an important way to implement organizational strategies, especially in the project-based organizations. in such organizations, the decision-makers usually encounter a problem of the project portfolio selection. of course, regarding the decision-makers’ risk attitude, they tend to direct organizational resources toward projects with low threats and high opportunities. this ...

This research explored how social distance affects risk preference in the life-saving domain. We found that decisionmakers tend to be more risk-seeking when the lives of close others versus distant others are at stake. By analyzing the shape of value function, we showed that the underlying mechanism for this difference in risk attitude might be that decision-makers engage in feeling-based evalu...

For the performance evaluation of coal enterprises energy conservation and reduction of pollutant emission, a new attitude index group decision-making method is proposed based on trapezoidal fuzzy numbers. Under the condition in which the information of attributes weights and decision maker weights is entirely, the attitude index is introduced firstly. By solving the fuzzy object programming fo...

A combination of geographic information system (GIS) and spatial multicriteria decision making (MCDA) in mine water inrush risk evaluation is widely used, but the randomness process index weight determination risk-coping attitude makers are not considered process. Therefore, this paper proposes a probability-based roof method (GIS-MCDA) by combining Monte Carlo analytic hierarchy (MAHP) ordered...

We develop the parametric weighted ordered weighted average (WOWA) operator in dynamic decision problems represented by multi-criteria decision tree, which combines the regular increasing monotonic (RIM) quantifiers with piecewise linear function. The parametric WOWA operator with piecewise linear function can be used to represent various preferences of the decision makers in the forms of risk ...

This article presents the results of an experiment designed to test theoretical predictions about the impact of public compensation schemes and ambiguity on insurance and self-insurance decisions. Consistent with theory, we find that government assistance significantly reduces willingness to pay (WTP) for insurance and self-insurance (compared with a free insurance market). As expected, we also...