AOptimal Decisions Based on Two Targets in Friedman model and Hassman-Rivett Model
Title Optimal Decisions Based on Two Targets in Friedman model and Hassman-Rivett Model
Author

Dr. Chen Shaogang and Anyong

Contact Information

College of Applied Mathematics, University of Electronic Science and Technology of China, Chengdu, China

Key words optimal decision; bidding; winning probability; expected profits
Abstract

This paper extends the outcomes of the single target based on expected profits in the Friedman model and Hassman-Rivett model. Under the condition that the numbers of participators are uncertain and based on introducing a proportion coefficient , it constructs two decision-making models of two targets in Friedman model and Hassman-Rivett model, and then further studies the decisions in the above two models. The model it constructs effectively resolves the defect that winning probability and expected profits vary inversely, which causes the difficulty in decision- making.

Full-text Contact: Dr.Obeidat at mobeidat@spsu.edu, or lsun@spsu.edu
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