Die Abhandlung zeigt für wiederholbare Prozesse eine universell anwendbare Ableitung eines Rechenalgorhithmus auf, mit dem unter Annahme einer Wahrscheinlichkeitsverteilung mögliche Plan-Istabweichungen und Aufallkosten zu einem Gleichgewicht und damit zu einem Ergebnisoptimunm führen....

Decision making in today's world certainly incorporates the consideration of assessment in view of a number of criteria, instead of a favored single criteria. Solving a multi-criteria decision issue offers decision makers suggestions, regarding the best decision choices (Alternatives). At the...

Using lattice programming and order theoretic fixpoint theory, we develop a powerful class of monotone iterative methods that provide a qualitative theory of Markovian equilibrium for a large class of infinite horizon economies with capital. The class of economies is large and includes...

We study the effect of ambiguity on timing decisions. An agent faces a stopping problem with an uncertain stopping payoff and a stochastic time limit. The agent is unsure about the correct model quantifying the uncertainty and seeks to maximize her payoff guarantee over a set of plausible...

Local interactions refer to social and economic phenomena where individuals' choices are influenced by the choices of others who are 'close' to them socially or geographically. This represents a fairly accurate picture of human experience. Furthermore, since local interactions imply particular...

The theory of melioration, originally formulated for individual decision-making contexts, is formally extended to a game theoretic framework. This paper proves the existence of a distribution that is a melioration strategy on the part of all players. Further, the question of stability of such a...

We experimentally explore individual and interactive decision making ina sequential search task and test whether generally accepted principles ofbounded rationality (aspiration formation, satisficing, and aspiration adjustment)adequately explain the observed search behavior. Subjects can, at...

We prove that under very weak conditions optimal financial products have to be co-monotone with the inverted state price density. Optimality is meant in the sense of the maximization of an arbitrary preference model, e.g. Expected Utility Theory or Prospect Theory. The proof is based on methods...

In this paper we study Markov Decision Process (MDP) problems with the restriction that at decision epochs only a finite number of given Markovian decision rules may be applied. The elements of the finite set of allowed decision rules should be mixed to improve the performance. The set of...