ETH Zurich - D-BAUG - IBK (Faber)

A decision making framework is developed that includes several decision makers (instead of just one) having different preferences and value systems. The information provided by the varying opinions of decision makers can be used to optimize our own decision making. To achieve this, likelihood functions are developed for stated preferences among both discrete and continuous alternatives, and stated preference rankings of alternatives. The specific case is considered of optimization of the lifecycle utility of a structural system subject to consequences of failure proportional to the intensity of hazards exceeding a variable threshold, and to follow-up consequences.

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Proceedings First Forum on Engineering Decision Making IFED, December 5-9, 2004, Stoos, Switzerland available on IFED

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