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    On the separation of preferences among marked point process wager alternatives

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    PARK-DISSERTATION.pdf (488.1Kb)
    Date
    2009-05-15
    Author
    Park, Jee Hyuk
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    Abstract
    A wager is a one time bet, staking money on one among a collection of alternatives having uncertain reward. Wagers represent a common class of engineering decision, where “bets” are placed on the design, deployment, and/or operation of technology. Often such wagers are characterized by alternatives having value that evolves according to some future cash flow. Here, the values of specific alternatives are derived from a cash flow modeled as a stochastic marked point process. A principal difficulty with these engineering wagers is that the probability laws governing the dynamics of random cash flow typically are not (completely) available; hence, separating the gambler’s preference among wager alternatives is quite difficult. In this dissertation, we investigate a computational approach for separating preferences among alternatives of a wager where the alternatives have values that evolve according to a marked point processes. We are particularly concerned with separating a gambler’s preferences when the probability laws on the available alternatives are not completely specified.
    URI
    http://hdl.handle.net/1969.1/ETD-TAMU-2757
    Subject
    Wager
    Design Decision
    Risk Preference
    Marked Point Process
    Expected Utility
    Optimization
    MCMC
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    • Electronic Theses, Dissertations, and Records of Study (2002– )
    Citation
    Park, Jee Hyuk (2008). On the separation of preferences among marked point process wager alternatives. Doctoral dissertation, Texas A&M University. Available electronically from http : / /hdl .handle .net /1969 .1 /ETD -TAMU -2757.

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