Optimal solutions to Markov decision problems may be very sensitive with respect to the state transition probabilities. In many practical problems, the estimation of these probabilities is far from accurate. Hence, estimation errors are limiting factors in applying Markov decision processes to real-world problems. We consider a robust control problem for a finite-state, finite-action Markov dec...

Bayesian correlation estimation, shadow prior, portfolio selection with higher moments) COVARIANCE MATRICES AND SKEWNESS: MODELING AND APPLICATIONS IN FINANCE by Merrill Windous Liechty Institute of Statistics and Decision Sciences Duke University

In rough set theory, attribute reduction is a basic issue, which aims to hold the discernibility of the attribute set. To obtain all of the reducts of an information system or a decision table, researchers have introduced many discernibility matrixes based reduction methods. However, the reducts in the sense of positive region can only be obtained by using the existing discernibility matrixes. ...

In this paper, two types of fuzzy probability spaces will be introduced and their possible applications in methods of decision-making under risk will be described. First, a fuzzy probability space that generalizes the classical probability space ( ,Bn, p) to the situation of fuzzy random events will be studied. It can be applied e.g. when given continuous probability distributions of risk facto...

Optimal solutions to Markov Decision Problems (MDPs) are very sensitive with respect to the state transition probabilities. In many practical problems, the estimation of those probabilities is far from accurate. Hence, estimation errors are limiting factors in applying MDPs to realworld problems. We propose an algorithm for solving finite-state and finite-action MDPs, where the solution is guar...

Recently, the concept of intuitionistic fuzzy parameterized soft matrices (ifpifs-matrices) has allowed to mathematically model some problems in which parameters and alternatives exhibit uncertainties. To this end, present study aims generalise 24 decision-making (SDM) methods operating space with a single fpfs-matrix ifpifs-matrices spaces. Afterwards, we propose five test scenarios analyse wh...

In this paper, we discuss the use of binary decision diagrams to represent general matrices. We demonstrate that binary decision diagrams are an efficient representation for every special-case matrix in common use, notably sparse matrices. In particular, we demonstrate that for any matrix, the BDD representation can be no larger than the corresponding sparse-matrix representation. Further, the ...

In this paper we want to further investigate the usage of matrices as a representation of relations within arbitrary heterogeneous relation algebras. First, we want to show that splittings do exist in matrix algebras assuming that the underlying algebra of the coefficients provides this operation. Second, we want to outline an implementation of matrix algebras using reduced ordered multi-valued...

W ith the increasing focus by university deans, hospital directors, and chairs of departments of medicine on cardiology as a high-income clinical service, many of us who work in medical schools are beginning to wonder how our academic position can be preserved. Maintaining a high profile in basic research becomes increasingly difficult under such conditions. On the other hand, clinical research...