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Updated: Jun 27, 2025

Measuring the Subjective Value of Risky and Ambiguous Options using Experimental Economics and Functional MRI Methods
Published on: September 19, 2012
Hesitant and uncertain linguistics based executive decision making using risk and regret aversion: Methods,
Taniya Seth1, Pranab K Muhuri1
1Department of Computer Science, South Asian University, Maidan Garhi, Rajpur Road, New Delhi-110068, India.
Abstract:
Presence of globally-affecting issues, such as the recent COVID-19 pandemic is a major factor impacting the operation of services provided by high-stake companies. These factors create huge hindrances in the regular and proper operations of companies in staying relevant in market while catering to the services they provide. In such cases, in order to maintain and achieve their internal goals should any possible losses that the grave situation might incur, relevant experts within these firms must arrive at optimal decisions taking into account human cognition as well as all possibilities of risk and regrets. A suitable regret theory based linguistic decision-making model called THREAD which computes with inherent hesitancy using interval type-2 fuzzy sets (IT2 FS) and hesitant fuzzy linguistic term sets-based techniques is introduced in this paper.
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