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Valuation of Crisp and Intuitionistic Fuzzy Information

In: Operations Research Proceedings 2017

Author

Listed:
  • Olga Metzger

    (Otto von Guericke University)

  • Thomas Spengler

    (Otto von Guericke University)

  • Tobias Volkmer

    (Otto von Guericke University)

Abstract

The standard model of information valuation as presented by Emery, Organization planning and control systems: theory and technology, Macmillan Pub Co., London, 1969, [1] and Laux, Grundfragen der Organisation: Delegation Anreiz und Kontrolle, Springer, Berlin, 1979, [2] is based on Bayesian statistics. This approach is limited to the processing of a crisp objective function as well as a crisp decision field. It is assumed that information is solely obtained in order to improve prior state probabilities. In this paper, we first present and discuss variations of the standard model, including considerations of potential negative information values. Second, we want to take vague information into account by implementing intuitionistic fuzzy logic.

Suggested Citation

  • Olga Metzger & Thomas Spengler & Tobias Volkmer, 2018. "Valuation of Crisp and Intuitionistic Fuzzy Information," Operations Research Proceedings, in: Natalia Kliewer & Jan Fabian Ehmke & Ralf Borndörfer (ed.), Operations Research Proceedings 2017, pages 113-119, Springer.
    • Handle: RePEc:spr:oprchp:978-3-319-89920-6_16
    DOI: 10.1007/978-3-319-89920-6_16
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