Study on Methods of Decision-making under Interval Probability
Dayi He · Journal of systems management · 2010
Interval probability theory(IPT) provides a new tool to study uncertainty,though it can not satisfy with the additive requirement of measurement. This paper presents three methods,Monte Carlo simulation,non-linear transmission and linear transmission to convert the interval probability to classical point probability which can satisfy the additive requirement of measurement.By the methods provided in this paper,the decision-making under interval probability can be solved by the classical theory of maximum expected monetary value(EMV) principle.