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
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: 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
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