Accession Number : ADA444691


Title :   Distorted Risk Measures with Application to Military Capability Shortfalls


Descriptive Note : Journal article Jan-Jun 2005


Corporate Author : AIR FORCE INST OF TECH WRIGHT-PATTERSON AFB OH


Personal Author(s) : Offutt, Edwin J ; Kharoufeh, Jeffrey P ; Deckro, Richard F


Full Text : https://apps.dtic.mil/dtic/tr/fulltext/u2/a444691.pdf


Report Date : 15 Dec 2005


Pagination or Media Count : 21


Abstract : We consider the problem of selecting a appropriate distortion function and associated parameters to account for rare but catastrophic events that may result from a shortfall of military or security capabilities. Additionally, we describe the means by which a decision maker may allocate resources, subject to a finite budget constraint, while considering the impact of the risk of such shortfalls. The optimal decision is shown to be sensitive to the decision maker's level of risk aversion.


Descriptors :   *MILITARY CAPABILITIES , *DISTORTION , *RISK ANALYSIS , FUNCTIONS , OPTIMIZATION , RISK , BUDGETS , SHORTAGES , CATASTROPHIC CONDITIONS , DECISION MAKING , IMPACT , SECURITY


Subject Categories : Administration and Management
      Operations Research


Distribution Statement : APPROVED FOR PUBLIC RELEASE