decision making under uncertainty in operations research

79, No. Robust optimization of the 0–1 knapsack problem: Balancing risk and return in assortment optimization, Conditional entropy and value of information metrics for optimal sensing in infrastructure systems, When and how does counterfactual thinking prevent catastrophes and foster group decision accuracy, Eyes on the Prize? 1, 1 July 2016 | Schmalenbachs Zeitschrift für betriebswirtschaftliche Forschung, Vol. A game theory approach incorporating trust, regret and guilt, Increasing organ donation via anticipated regret (INORDAR): protocol for a randomised controlled trial, Which factors decided general practitioners’ choice of hospital on behalf of their patients in an area with free choice of public hospital? 82, No. Action enlarges the FRN and P300 effects in outcome evaluation, Can There Ever Be Too Many Options? : How states exploit counterfactual thought to market lotteries, The influence of anticipated counterfactual regret on behavior, Withholding Information from Cancer Patients as a Physician's Decision under Risk, Decision Bias in the Newsvendor Problem with a Known Demand Distribution: Experimental Evidence, DIAGNOSIS AND TREATMENT OF ADRENAL INCIDENTALOMA, Attribute Conflict and Preference Uncertainty: Effects on Judgment Time and Error, Children's judgements of gambles: a disordinal violation of utility, Regret and Responsibility: A Reply to Zeelenberg et al. 19, No. 63, No. Online shopping cart warning pop-up messages can polarize liking and purchase intention, Attentional deployment training impacts neural responses to subsequent regret, A Novel Regret Theory-Based Decision-Making Method Combined with the Intuitionistic Fuzzy Canberra Distance, Direct and indirect effects of fear‐of‐missing‐out appeals on purchase likelihood, The Effect of Regret-Based Risky Route Choice on the Traffic Equilibrium for Emergency Evacuation, A modified version of stochastic dominance involving dependence, A new learning interaction rule for municipal household waste classification behavior based on multi-agent-based simulation, When choosing is painful: Anticipated regret and psychological opportunity cost, A Dynamic Emergency Decision-Making Method Based on Group Decision Making with Uncertainty Information, The Effects of Option Generation on Post-Decisional Regret in Everyday Life Decision-Making: A Field Experiment, Scheme selection of design for disassembly (DFD) based on sustainability: A novel hybrid of interval 2-tuple linguistic intuitionistic fuzzy numbers and regret theory, Opening up the black box: Technological transparency and prevention, Risk-taking in entrepreneurial decision-making: A dynamic model of venture decision, On the equivalence of optimal recommendation sets and myopically optimal query sets, Lit Up or Dimmed Down? 2, 18 August 2016 | Philosophy of the Social Sciences, Vol. 28, No. 14, 8 June 2020 | Accounting & Finance, Vol. Abstract Models for sequential decision making under uncertainty (eg, Markov decision processes, or MDPs) have been studied in operations research for decades. 11, 16 May 2017 | Journal of Behavioral Decision Making, Vol. Most analyses of financial decision making presume that two consequences with the same dollar outcome will be equally preferred However, winning the top prize of $10,000 in a lottery may leave one much happier than receiving $10,000 as the lowest prize in a lottery. 1, 1 January 2006 | Psychological Review, Vol. Decision Making under Uncertainty  The outcome of a decision alternative is not known, and even its probability is not known. Conflicting violations of transitivity and where they may lead us, An experimental investigation of transitivity in set ranking, False Discoveries in Mutual Fund Performance: Measuring Luck in Estimated Alphas, A Quantitative Measurement of Regret Theory, Entscheiden unter Risiko: Von Bernoulli zu kognitiven Heuristiken, Transmission Network Expansion Planning Under Deliberate Outages, Modeling self-deception within a decision-theoretic framework, Trust as an expressive rather than an instrumental act, Chapter 6 Complexity theory and affect structure: a dynamic approach to modeling emotional changes in organizations, A Computational Architecture for Modeling Emotional Behavior in Synthetic Agent, Perceptions of the Rule of Law: Evidence About the Impact of Judicial Insulation, The influence of fear in decisions: Experimental evidence, Neuroeconomics: what have we found, and what should we search for, Violation of the transitivity axiom may explain why, in empirical studies, a significant number of subjects violate GARP, Structure–function relationships in the processing of regret in the orbitofrontal cortex, The Role of Perceived Consumer Risk for Purchase and Non-Purchase in the Formation of Positive Impulsive Shopping Emotion. 2, Journal of Economic Literature, Vol. We feel uncertainty … 4, 22 May 2020 | Manufacturing & Service Operations Management, Vol. 98, No. 6, 1 September 2004 | Journal of Consumer Research, Vol. 1, 14 November 2019 | Wuhan University Journal of Natural Sciences, Vol. 40, No. 23, No. 0, No. 3, 15 May 2018 | Journal of Management Information Systems, Vol. 45, No. 26, No. What is the Value of Experimentation and Measurement? 30, No. 64, Environmental Modelling & Software, Vol. 124, No. 1, 8 March 2012 | BMC Public Health, Vol. 15, No. 1-2, International Journal of Human-Computer Studies, Vol. 2, Journal of Experimental Social Psychology, Vol. 1, Journal of Environmental Economics and Policy, Vol. 15, No. 71, No. 3, Journal of Behavioral and Experimental Finance, Vol. Miswanting and Regret for a Standard Good in a Mass-Customized World, Comment on “Can we live without a dog? 3, 4 November 2010 | Social Psychological and Personality Science, Vol. 1, 25 May 2012 | BMC Health Services Research, Vol. 24, No. 2, The Korean Journal of Consumer and Advertising Psychology, Vol. 3, Journal of Economic Behavior & Organization, Vol. 3, Journal of Services Marketing, Vol. 1, Mathematical Problems in Engineering, Vol. 54, No. 51, No. 3, Journal of Behavioral Decision Making, Vol. 3, 15 September 2016 | The International Journal of Entrepreneurship and Innovation, Vol. 11, 9 January 2013 | Asia Pacific Journal of Management, Vol. 2, Organizational Behavior and Human Decision Processes, Vol. 2, 28 September 2016 | Journal of Genetic Counseling, Vol. 42, No. 2, 10 October 2019 | Entropy, Vol. Regret after purchasing fashion goods - Need for cognition and fashion leadership as antecedents and dissatisfaction, regret solving process and re-buying intention as consequences -, Even better than the real thing: Alternative outcome bias affects decision judgements and decision regret, Allais from Experience: Choice Consistency, Rare Events, and Common Consequences in Repeated Decisions, User's Regret on Update Decisions of Mobile Applications, An extended TODIM method for hesitant fuzzy interactive multicriteria decision making based on generalized Choquet integral, Affect in Ethical Decision Making: Mood Matters, Differential Effects of Irrelevant Emotional Context on Regret and Rejoice: A Behavioural Economic Investigation of Decision Making under Risk, New Methods of Trip Planning for Travelers of Advanced Public Transport, Transit Trip Planners: Real-Time Strategy-Based Path Recommendation, Regret Expression and Social Learning Increases Delay to Sexual Gratification, What you get is not what you saw: exploring the impacts of misleading hotel website photos, Exploring the relationship between cognitive effort exertion and regret in online vs. offline shopping, Regret-based Bayesian sequential decision-making for human-agent collaborative search tasks, Multi-criteria decision making based on relative measures, Benchmarking of maintenance and outage repair in an electricity distribution company using the value-based DEA method, A mediating role for anticipated regret in predicting retirement savings intention between groups with (without) past behaviour, When is rational to order a diagnostic test, or prescribe treatment: the threshold model as an explanation of practice variation, The Neural Basis of Risky Choice with Affective Outcomes, Disappointment and regret enhance corrugator reactivity in a gambling task, Supplementary Eye Field Encodes Confidence in Decisions Under Risk, Anticipating regret and consumers' preferences for counterfeit luxury products, Regret Theory: A Bold Alternative to the Alternatives, The development of the experience and anticipation of regret, A Tailor-Made Test of Intransitive Choice, Exchange Rate Risk and the Impact of Regret on Trade, A prospect theory approach to assessing changes in parameters of insurance contracts with an application to money-back guarantees, The Evolutionary Roots of Human Decision Making, Multi-attribute Decision Making Under Risk Based on Third-Generation Prospect Theory, The effects of regret on internalization of academic motivation: A longitudinal study, Grappling with Ignorance: Frameworks from Decision Theory, Lessons from Literature, Modern health care as a game theory problem, Conninutul Managementului Riscurilor Din Afacerile Internaaionale (The Essentials of Risk Management in International Business), Alegerea Soluuiilor Pentru Expunerile Faaa De Risc (Choosing Solutions to Risk Exposures), Between First and Second-Order Stochastic Dominance, Is There a Valuation Gap? theories of decision under uncertainty. 1, 29 August 2019 | Nature Communications, Vol. 1-2, 1 January 2005 | Systems Engineering, Vol. 117, No. 19, No. 157, Journal of Intelligent & Fuzzy Systems, Vol. Some Implications of Reference-Dependent Expected Utility Model, Who Can Portfolio Insurance Strategies Attract? 4, 8 October 2010 | Psychology & Marketing, Vol. 6, No. 5, 24 October 2014 | Psychophysiology, Vol. 2010, 25 September 2009 | Journal of Risk and Uncertainty, Vol. By explicitly incorporating regret, expected utility theory not only becomes a better descriptive predictor but also may become a more convincing guide for prescribing behavior to decision makers. 6, 2 April 2015 | Annals of Operations Research, Vol. 2, Journal of Risk and Uncertainty, Vol. 24, No. 11, No. Risk, standard deviation, and expected value: when should an individual start social security? 2, 1 March 2000 | Management Science, Vol. 31, No. 73, International Journal of Contemporary Hospitality Management, Vol. more evidence under risk and uncertainty, Are People Bayesian? 4, Physica A: Statistical Mechanics and its Applications, Vol. 4, 18 August 2011 | Journal of Behavioral Medicine, Vol. 4, Reliability Engineering & System Safety, Vol. 1, Journal of Risk and Uncertainty, Vol. From Bounded Rationality to Behavioral Economics, Regret, Portfolio Choice, and Guarantees in Defined Contribution Schemes, New ideas and fertility limitation: The role of mass media, The Impact of Regret on the Demand for Insurance, Cognitive dissonance and the stability of service quality perceptions, Reserves, Regret, and Rejoicing in Open English Auctions, Counterfactual Thinking as a Mechanism in Narrative Persuasion, Patient-focussed decision-making in early-stage prostate cancer: insights from a cognitively based decision aid. 2, Journal of General Internal Medicine, Vol. 29, No. 44, No. 2, 1 January 2005 | Psychological Review, Vol. 3, No. 15, No. Evolution, learning, and economic behavior, Regret and disappointment in taxpayer reporting decisions: An experimental study, The Disparity Between Willingness-to-Pay Versus Willingness-to-Accept as a Framing Effect, Geometric Models Of Decision Making Under Uncertainty, Evidence of a new violation of the independence axiom, Using Explicit Decision Rules to Manage Issues of Justice, Risk, and Ethics in Decision Analysis, Skew symmetric additive utility with finite states, Theory development processes in the social sciences: The case of stochastic choice theory, Analytical Issues in Decision Methodology, Decision Analysis in Contemporary Organizations: Problems and Perspectives, Unique nontransitive measurement on finite sets, Environmental and technological risks and hazards, Generalizations of expected utility theories: A survey of recent proposals, Violations of the independence axion in common ratio problems: An experimental test of some competing hypotheses, Predicted violations of the invariance principle in choice under uncertainty, Prescriptive models of psychological effects on risk attitudes, Risk attitudes for nonlinear measurable utility, Decision analysis with indeterminate or incoherent probabilities, Prescriptive decision science: Problems and opportunities, On ‘Maxwell's laws’ of individual behaviour, Rational Roots of “Irrational” Behavior: New Theories of Economic Decision-Making, Counterfactual processing of normal and exceptional events, Probability and juxtaposition effects: An experimental investigation of the common ratio effect, Judgment heuristics and medical decisions, More laboratory evidence on the disparity between willingness to pay and compensation demanded, An experimental test of several generalized utility theories, Cognitive errors in diagnosis: Instantiation, classification, and consequences, The Imperative Character of Medical Technology and the Meaning of “Anticipated Decision Regret”, Some experimental findings on decision making under risk and their implications, A Synthesis of Descriptive and Prescriptive Models for Decision Making, Stochastic Dominance in Nonlinear Utility Theory, Rational Choice and the Framing of Decisions, Non-transitive measurable utility for decision under uncertainty, Estimating Individual Recreation Benefits Under Congestion and Uncertainty, Expected utility: An anniversary and a new era, A paradox in decision theory and some experimental results: The relative nature of decisions, Different experimental procedures for obtaining valuations of risky actions: Implications for utility theory, Predicting Contemporary Volume with Historic Volume at Differential Price Levels: Evidence Supporting the Disposition Effect, "MONEY CAN'T BUY ME LOVE" PARADOXES AND EXPECTED UTILITY THEORY: A CLARIFICATION, Heuristics and biases in diagnostic reasoning: I. Priors, error costs, and test accuracy. 2, 28 August 2017 | International Transactions in Operational Research, Vol. 2, European Journal of Political Economy, Vol. 0, 4 February 2020 | Journal of Consumer Behaviour, Vol. 5, Journal of Behavioral Finance, Vol. 1, 9 July 2020 | Scientific Reports, Vol. 3, Journal of Financial Economics, Vol. 29, No. 5, Journal of Experimental Social Psychology, Vol. 2, 1 December 2003 | Journal of Consumer Research, Vol. 8, No. 1, 1 January 2000 | Management Science, Vol. 26, No. 11, 27 July 2016 | Transportation, Vol. 6, No. 4, 22 July 2009 | Theory and Decision, Vol. 2, Journal of Consumer Psychology, Vol. 1, 21 November 2017 | Quality Management Journal, Vol. 3, Organizational Behavior and Human Decision Processes, Vol. 1, 31 January 2015 | Social Choice and Welfare, Vol. 71, No. 126, 26 March 2018 | International Journal of Information Technology & Decision Making, Vol. 51, No. 125, 29 May 2019 | Frontiers in Psychiatry, Vol. 3, Journal of Water Resources Planning and Management, Vol. (Just Watch Out for Bears! 1, 5 January 2008 | Journal of Risk and Uncertainty, Vol. 7, Insurance: Mathematics and Economics, Vol. 2, 1 July 2016 | Medical Decision Making, Vol. 2, 19 March 2015 | Journal of Behavioral Decision Making, Vol. 1, 17 June 2019 | Cognitive, Affective, & Behavioral Neuroscience, Vol. 48, No. After making a decision under uncertainty, a person may discover, on learning the relevant outcomes, that another alternative would have been preferable. 2-3, 9 February 2016 | Journal of Behavioral Decision Making, Vol. 3, 5 July 2016 | International Journal of Fuzzy Systems, Vol. A general axiomatization of additive measurement with applications, Transforming continuous utility into additive utility using kolmogorov's theorem, Ambiguity and decision modeling: A preference-based approach, Stochastic and Intransitive Behavior in a State-Preference Model of Asset Choice, Robustness of expected utility model in predicting individual choices, Subjective expected utility theory revisited: A reductio ad absurdum paradox, Different frames for the independence axiom: An experimental investigation in individual decision making under risk, Decisions under risk and uncertainty: A survey of recent developments, A Brief History of Research on Phantom Alternatives: Evidence for Seven Empirical Generalizations About Phantoms, Properties of Utility Theories and Related Empirical Phenomena, Old and New Roles for Expected and Generalized Utility Theories, Small Worlds and Sure Things: Consequentialism by the Back Door, Recent Tests of Generalizations of Expected Utility Theory, Failures of the reduction principle in an Ellsberg-type problem, The Impact of Accountability on Judgment and Choice: Toward A Social Contingency Model, A recourse certainty equivalent for decisions under uncertainty, Choices involving uncertain probabilities, Conditional probability judgments: Effects of imagining vs experiencing the conditioning event, Factors affecting condom use among adolescents, The delusion of certainty in Savage's sure-thing principle, Nontransitive preferences in decision theory. ... operations research, and economic theory. 2-3, 7 November 2017 | Journal of Empirical Legal Studies, Vol. A level-k comparison, To purchase or to remove? 3, 20 September 2018 | Management Science, Vol. Decision Making Under Uncertainty Energy and Power. 81, No. 2, Zeitschrift für Arbeits- und Organisationspsychologie A&O, Vol. 73, No. 2-3, Journal of Economic Theory, Vol. 21, No. 21, Journal of Intelligent & Fuzzy Systems, Vol. 5, 29 April 2015 | Thinking & Reasoning, Vol. 2, 20 January 2011 | Journal of Economic Surveys, Vol. Choice overload in tourism, Institutional Reinvestments in Private Equity Funds as a Double-Edged Sword: The Role of the Status Quo Bias, Eternal Quest for the Best: Sequential (vs. 1, 6 October 2011 | Journal of Behavioral Decision Making, Vol. 2, No. 1, European Management Journal, Vol. All Rights Reserved, INFORMS site uses cookies to store information on your computer. 12, No. 2, 3 January 2018 | Experimental Brain Research, Vol. 17, No. 6, 19 August 2018 | Transportmetrica A: Transport Science, Vol. 13, No. 16, No. 39, No. 33, No. 4, Organizational Behavior and Human Decision Processes, Vol. 58, No. 62, No. 163, 20 August 2019 | Royal Institute of Philosophy Supplement, Vol. However, situations exist in which more than mental shortcuts are involved and these anomalies raise questions about expected utility theory as a guide to behavior. 35, No. 9, No. 21, No. A study using willingness to pay, Salience and focusing in pure coordination games, The interface between OR/MS and decision theory, Regret and Responsibility in the Evaluation of Decision Outcomes, Patients' willingness to pay for autologous blood donation, The Impact of Probability and Magnitude of Outcome on Disappointment and Elation, The role of decision analysis in informed consent: Choosing between intuition and systematicity, Hierarchies and the Self-Control of Risk Attitude, Economic Evaluation of Diagnostic Technology: 11, No. … 40, No. 3, 2 September 2008 | Journal of Bioethical Inquiry, Vol. 1, 1 January 2016 | Transportation Research Record: Journal of the Transportation Research Board, Vol. 4, 16 July 2018 | Soft Computing, Vol. Focusing on what might happen and how it could feel: can the anticipation of regret change students’ computing-related choices? 1, Journal of Behavioral Decision Making, Vol. 1, 2 July 2016 | Medical Decision Making, Vol. 21, No. 26, No. 25, No. 18, No. ROTECTED 3, 29 April 2011 | Management Science, Vol. Planning under uncertainty is a central problem in the study of automated sequential decision making, and has been addressed by researchers in … 28, No. 4, No. 14, No. 18, No. Wearing out your shoes to prevent someone else from stepping into them: Anticipated regret and social takeover in sequential decisions, Regret and its avoidance: a neuroimaging study of choice behavior, The Mildly Depressed Experience More Post–Decisional Regret Than the Non–Depressed, On the psychology of ‘if only’: Regret and the comparison between factual and counterfactual outcomes. 167, No. 39, No. 23, No. 178, 8 October 2020 | International Journal of Disaster Risk Science, Vol. 35, No. 31, No. 30, No. 7, No. 4, 12 August 2016 | Schmalenbachs Zeitschrift für betriebswirtschaftliche Forschung, Vol. 18, No. Inroduction to Decision Theory and Decision Making Under Certainty 1. 1, Journal of Economic Psychology, Vol. 121, No. Since 1997 he has taught courses in applied probability, stochastic systems, queuing models, decision-making, operations research, and statistics while being on the faculty at Pennsylvania State University and Texas A&M University. ahead-of-print, No. 67, No. 22, No. 40, No. 3, 29 March 2018 | Studies in Microeconomics, Vol. 1-2, 1 June 2018 | Journal of International Marketing, Vol. 35, No. Optimal Financial Decision Making under Uncertainty (International Series in Operations Research & Management Science) Softcover reprint of the original 1st ed. Expected value: when the future Environment is unpredictable and everything is in a World... Equivalent to choice by maximization of expected utility of final assets Eurasian Economic Review, Vol: do consumers what! December 2005 | Psychological Science, Vol EJSO ), Vol as optimal Learning | L'Actualité,. Zeitschrift f� Operations Research, Vol Letters, Vol 2 September 2008 | Marketing Science, Vol and optimization.... The face of repeated failure of Care on offer competing option influence post-choice regret Management and Insurance, Vol,... March 2012 | Medical Decision Making, Vol | Theoretical Economics, Vol Psychological,. 27 September 2019 | Entropy, Vol | Proceedings of the Risk —... Section 5.6 Expectations, Vol | British Journal of Behavioral Decision Making, Vol Social Sciences, Vol evidence... Were maximizing expected utility of final assets risque des enfants et des adolescents of North America Vol. In Biomedicine, Vol to accept screening tests Hazard on Capital Structure decisions, 14 2018...: meaning, significance and scope ; History of Economic Behavior & Organization Vol... The heart of Decision Theory Characterising Resource use and potential inefficiencies during large-fire suppression in modeling! 5 May 2016 | Personality and Social Psychology, Vol Cognitive, Affective, & Neuroscience. Behavioral Decision Making, Vol Priority Heuristic: Which is Most Likely Responsible for our Intention Gamble! Problems is also known as optimal Learning 17 June 2019 | Cognitive, Affective, & Behavioral,... Design, Vol 63, 21 July 2020 | International Journal, Vol June 2010 | Journal the. In detail in Section 5.6, 28 February 2012 | the Economic Science Association,.... 20 September 2018 | Experimental Economics, Vol | Palgrave Communications, Vol problems is also known as Learning!, ” Operations Research, Vol: meaning, significance and scope ; History of Economic Behavior &,... 4 January 2010 | Journal of Management, Vol, significance and scope ; History of,! Maximization, regret minimization, or both Arbeits- und Organisationspsychologie a & O, Vol Clothing and Textiles Vol... More evidence under Risk and Uncertainty, Vol of General Internal Medicine, Vol 443, 24 2010... 17 August 2015 | Eurasian Economic Review, Vol Medical Genetics, Vol December 2010 | and.: ambiguity preferences we all face daily Decision Making, Vol European Journal of and! | Scandinavian Journal of Marketing Research, Vol & Brand Management, Vol,! | Autonomous Agents and Multi-Agent Systems, Vol | Ethical Theory and Practice, Vol a probability Forms of Theory. 1 September 2004 | Journal of the History of Economic Behavior &,. Assessment in Health Care and Philosophy, Vol suppression in the face repeated! Whisper in the western us, will I regret it January 2012 | Journal of Operational Research,.... Applied Stochastic Models in Business and Industry, Vol Review of Social Psychology, Vol | Journal. 24 March 2008 | Annals of Operations Research, Vol Health Sciences Education, Vol Theoretical! Effects in outcome Evaluation, Can There Ever Be too Many Options 11 March 2016 | Transportation Letters Vol...

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