A Concept of Decision-Making in Times of Crisis and Uncertainty

KSI Transactions on Knowledge Society, Volume IX, March 2016

5 Pages Posted: 3 Apr 2017

See all articles by Maya Lambovska

Maya Lambovska

University of National and World Economy, Department of Management

Date Written: March 2, 2016

Abstract

This paper presents opportunities for applying von Neumann – Morgenstern utility function as an instrument for choosing an alternative to overcome crisis of the organization. Choice between fuzzy triangular alternatives by means of definite (crisp) von Neumann – Morgenstern utility function is illustrated in this paper.

Keywords: Crisis, decision-making, von Neumann-Morgenstern utility function, Fuzzy triangular number

JEL Classification: C65, M10

Suggested Citation

Lambovska, Maya, A Concept of Decision-Making in Times of Crisis and Uncertainty (March 2, 2016). KSI Transactions on Knowledge Society, Volume IX, March 2016 , Available at SSRN: https://ssrn.com/abstract=2945059

Maya Lambovska (Contact Author)

University of National and World Economy, Department of Management ( email )

Students' Town
Sofia, 1700
Bulgaria

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