Some Notes on Maximum Entropy Utility
AbstractThe maximum entropy principle is effective in solving decision problems, especially when it is not possible to obtain sufficient information to induce a decision. Among others, the concept of maximum entropy is successfully used to obtain the maximum entropy utility which assigns cardinal utilities to ordered prospects (consequences). In some cases, however, the maximum entropy principle fails to produce a satisfactory result representing a set of partial preferences properly. Such a case occurs when incorporating ordered utility increments or uncertain probability to the well-known maximum entropy formulation. To overcome such a shortcoming, we propose a distance-based solution, so-called the centralized utility increments which are obtained by minimizing the expected quadratic distance to the set of vertices that varies upon partial preferences. Therefore, the proposed method seeks to determine utility increments that are adjusted to the center of the vertices. Other partial preferences about the prospects and their corresponding centralized utility increments are derived and compared to the maximum entropy utility. View Full-Text
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Kim, E.Y.; Ahn, B.S. Some Notes on Maximum Entropy Utility. Entropy 2019, 21, 637.
Kim EY, Ahn BS. Some Notes on Maximum Entropy Utility. Entropy. 2019; 21(7):637.Chicago/Turabian Style
Kim, Eun Y.; Ahn, Byeong S. 2019. "Some Notes on Maximum Entropy Utility." Entropy 21, no. 7: 637.
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