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Support of Decision-Making under Risk by a Risk-Averse Decision-Maker

Łodziński Andrzej

Decision Making in Manufacturing and Services

2019

Vol. 13, no. 1-2

73--83

The paper presents a method of supporting decision-making under risk by a risk- -averse decision-maker. Decision-making under risk occurs when the outcome of the system is ambiguous and depends on the state of the environment. The problem is considered as a multi-criteria optimization. The decision support method consists of interactive conduct of the process of decision-making. The decision is made by means of solving a problem with controlling parameters, which determine the aspirations of the decision-maker and evaluating the obtained solutions. The decision-maker sets parameters for which a solution is determined. Subsequently, he or she assesses the obtained solution, accepting or rejecting it. In the latter case, the decision-maker sets new values for the parameters and the problem is solved again. The present paper presents a discrete example of support for decision making under risk.