Contents V.9, N.1, 2018

  • OPTIMAL DECISION MAKING FOR WELL INTERVENTIONS UNDER UNCERTAINTY
    R.A. ALIEV , H.G. HAJIYEV , O.H. HUSEYNOV (pp. 73-81)
  • Abstract

    Decision making in real-world problems takes place in an environment of imprecise probabilities. As a result, the decision theory based on classical probability is not an adequate tool for such cases. In this paper we consider the problem of decision making for carrying out of geological and engineering operations in oil extraction when relevant information is described by interval-valued probabilities. Decision making is based on the use of utility function described as Choquet integral with a lower probability as a non-additive measure. The obtained results show applicability of the proposed approach

    Keywords

    imprecise probability, non-additive measure, Choquet integral, utility function, oil well

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