A Measure of Decision Flexibility
Abstract
We propose a decision-analytical approach to comparing the flexibility of decision sitnations from the perspective of a decisionmaker who exhibits constant risk-aversion over a monetary value model. Our approach is simple yet seems to be consistent with a variety of flexibility concepts, including robust and adaptive alternatives. We try to compensate within the model for uncertainty that was not anticipated or not modeled. This approach not only allows one to compare the flexibility of plans, but also guides the search for new, more flexible alternatives.
Cite
Text
Shachter and Mandelbaum. "A Measure of Decision Flexibility." Conference on Uncertainty in Artificial Intelligence, 1996.Markdown
[Shachter and Mandelbaum. "A Measure of Decision Flexibility." Conference on Uncertainty in Artificial Intelligence, 1996.](https://mlanthology.org/uai/1996/shachter1996uai-measure/)BibTeX
@inproceedings{shachter1996uai-measure,
title = {{A Measure of Decision Flexibility}},
author = {Shachter, Ross D. and Mandelbaum, Marvin},
booktitle = {Conference on Uncertainty in Artificial Intelligence},
year = {1996},
pages = {485-491},
url = {https://mlanthology.org/uai/1996/shachter1996uai-measure/}
}