Abstract
We introduce comfort decision modeling for decision problems in which an alternative is to be selected based on a measure of satisfaction we refer to as comfort. We define comfort as the difference between the payoff received by selecting a particular strategy and the worst payoff that could have been received under the manifestation of the same state-of-nature. We define the effective comfort associated with an alternative as the aggregation of an alternative’s comforts across all possible states-of-nature. We study several methods of aggregating an alternative’s individual comforts across the different states-of-nature, incorporating various types of information about the uncertainty associated with the states-of-nature. We provide a Comfort Decision Model to determine the value of alternatives utilizing attitudinal measures of the decision maker. We demonstrate a process of performing sensitivity of the resulting decision to a measure of the attitude of the decision maker. Lastly, we use an illustration to show the practicability and cogency of the new method.
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