Decision‐making Process 2009
DOI: 10.1002/9780470611876.ch3
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Formal Representations of Uncertainty

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Cited by 101 publications
(62 citation statements)
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References 137 publications
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“…Therefore, this paper presents a new methodology for the determination of a real option value under these uncertainties, also with the objective to reduce the computational time. The methodology is based on: fuzzy numbers [29,30], to represent these uncertainties; and Monte Carlo simulation to obtain a good approximation of the real option value. The fuzzy number allows dealing with the technical uncertainty as a whole, avoiding the need to sample it, as it would be the case for the triangular probability distribution; this method greatly speeds up the process of the Monte Carlo simulation.…”
Section: Proposed Methodologymentioning
confidence: 99%
“…Therefore, this paper presents a new methodology for the determination of a real option value under these uncertainties, also with the objective to reduce the computational time. The methodology is based on: fuzzy numbers [29,30], to represent these uncertainties; and Monte Carlo simulation to obtain a good approximation of the real option value. The fuzzy number allows dealing with the technical uncertainty as a whole, avoiding the need to sample it, as it would be the case for the triangular probability distribution; this method greatly speeds up the process of the Monte Carlo simulation.…”
Section: Proposed Methodologymentioning
confidence: 99%
“…However clever it may be, this view is debatable (see [32] for a summary of critiques). Especially, this representation is unstable: if P b x is uniform on E, then P b f (x) may fail to be so if E is finite and the image f (E) does not contain the same number of elements as E, or if E is an interval and f is not a linear transformation.…”
Section: Ontic Vs Epistemic Setsmentioning
confidence: 99%
“…Contrary to the numerical modeling tradition, such knowledge-based models are most of the time tainted with incompleteness: a set of logical formulae, representing an agent's beliefs is seldom complete, that is, cannot establish the truth or falsity of any proposition. This concern for incomplete information in Artificial Intelligence has strongly affected the development of new uncertainty theories [32], and has led to a critique of the Bayesian stance viewing probability theory as a unique framework for the representation of belief that mimics the probabilistic account of variability.…”
Section: Introductionmentioning
confidence: 99%
“…A wide comprehensive historical coverage on this topic has been performed by the work of Dubois and Prade (Dubois & Prade, 2009). The authors consider that an agent believes a piece of information to be uncertain when it is not able to state if the piece of information is true of false.…”
Section: Modern Approachesmentioning
confidence: 99%