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Published Articles >> Table of Contents >> Abstract
International Conference on Computational Inteligence for Modelling Control and Automation and International Conference on Intelligent Agents Web Technologies and International Commerce (CIMCA'06)
p. 10
Risk Elicitation in Precise and Imprecise Domains - A Comparative Study, Sweden and Brazil
Ari Riabacke, Mid Sweden University
Mona Pahlman, Stockholm University/KTH
Tara Baidya, Pontifícia Universidade Católica do Rio de Janeiro
Full Article Text:
 
DOI Bookmark: http://doi.ieeecomputersociety.org/10.1109/CIMCA.2006.189
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| Abstract |
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This paper presents a comparative study between
two groups from different cultural contexts, Sweden
and Brazil, when choosing among risky prospects. The
study explores whether there are differences in choice
behaviours when the uncertainty in the prospects is
expressed as interval estimates instead of the
traditional use of point estimates, as well as when
prospects are displayed with and without expected
monetary values. Both groups display similar choice
behaviours when they choose among prospects where
uncertainty is expressed as point vs. interval estimates,
whereas the Brazilian respondents are more affected
by EMV information. The results indicate that the
employment of intervals to represent uncertainty can
be beneficial and could facilitate the elicitation part in
the use and development of decision analytical tools.
Furthermore, there is a need for more flexible tools,
more adapted to a prescriptive approach, since people
from different cultural contexts seem to differ in their
choice behaviours.
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 Additional Information
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Citation:
Ari Riabacke, Mona Pahlman, Tara Baidya,
"Risk Elicitation in Precise and Imprecise Domains - A Comparative Study, Sweden and Brazil,"
cimca,
p. 10,
International Conference on Computational Inteligence for Modelling Control and Automation and International Conference on Intelligent Agents Web Technologies and International Commerce (CIMCA'06),
2006
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