An Overview of Lexicographic Choice Under Uncertainty

The Effect Of Salvage Market On Strategic Technology Choice And Capacity Investment Decision Of Firm Under Demand Uncertainty

A chance-constrained multi-objective model for final assembly scheduling in ATO systems with uncertain sub-assembly availability

A chance-constraint multi-objective model under uncertainty in the availability of subassemblies is proposed for scheduling in ATO systems. The on-time delivery of customer orders as well as reducing the company's cost is crucial; therefore, a three-objective model is proposed including the minimization of1) overtime, idletime, change-over, and setup costs, 2) total dispersion of items’ deliver...

Rational Choice Theory: An Overview

It seems easy to accept that rationality involves many features that cannot be summarized in terms of some straightforward formula, such as binary consistency.  However, this recognition does not immediately lead to alternative characterizations that might be regarded as satisfactory, even though the inadequacies of the traditional assumptions of rational behavior standard used in economic theo...

Hedonic Pricing under Uncertainty: A Theoretical Consumer Behavior Model

A model of consumer behavior has been formulated by using an additive utility function and the hedonic pricing approach, in a virtual market. Since, there is a time lag between ordering and purchasing products (goods and services) online and receiving them, it means the consumer makes decision under uncertainty. The level of satisfaction with products with distinctive characteristics is describ...

Reformulating the foundations of consumer choice theory and environmental valuation

The burgeoning field of environmental valuation has raised serious doubts about the fundamental axioms of consumer choice theory, the general validity of the Walrasian system and methodological individualism. This paper examines these aspects of consumer choice theory, paying particular attention to the pioneering contributions of Georgescu-Roegen. We argue that evidence from psychology, game t...