Utility Function (by von Neumann-Morgenstern) – an Instrument for Solution under Uncertainty and Crises Cover Image

Функцията на полезност по фон Нойман – Моргенщерн – инструмент за вземане на решения при неопределеност и кризи
Utility Function (by von Neumann-Morgenstern) – an Instrument for Solution under Uncertainty and Crises

Author(s): Maya Lambovska
Subject(s): Economy
Published by: Стопанска академия »Д. А. Ценов«
Keywords: management; crisis; decision-making; von Neumann - Morgenstern utility function; fuzzy sets

Summary/Abstract: The article represents possibilities of using the von Neumann – Morgenstern utility function as an instrument for choice of the crisis solution alternative in the organiza-tion under uncertainty. The article is worked out in two parts. Use of the von Neu-mann – Morgenstern utility function in the present context is argued in the first part. Characteristics of the utility function application to the valuation process of the fuzzy solution alternatives are clarified in the first part as well. Second part provides a choice illustration of the fuzzy triangular solution by classical von Neumann – Morgenstern utility function (described by usual, definite, crisp numbers).

  • Issue Year: 2008
  • Issue No: 01
  • Page Range: 1-9
  • Page Count: 9
  • Language: Bulgarian