TITLE:
Discussing an Expected Utility and Weighted Entropy Framework
AUTHORS:
José Pinto Casquilho
KEYWORDS:
Mosaic Composition, Expected Utility, Weighted Entropy, Mean Contributive Value
JOURNAL NAME:
Natural Science,
Vol.6 No.7,
April
25,
2014
ABSTRACT: In this paper, it
is discussed a framework combining traditional expected utility and weighted entropy (EU-WE)—also named mean contributive value index—which may be conceived
as a decision aiding procedure, or a heuristic device generating
compositional scenarios, based on information theory concepts, namely
weighted entropy. New proofs concerning the
maximum value of the index and the evaluation of optimal proportions are
outlined, with emphasis on the optimal value of the Lagrange multiplier and
its meaning. The rationale is a procedure of maximizing the combined value of
a system expressed as a mosaic, denoted by characteristic values of the
states and their proportions. Other perspectives of application of this EU-WE
framework are suggested.