A Status Quo Biased Multistage Decision Model for Regional Agricultural Socioeconomic Planning Under Fuzzy Information
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- Studies in Systems, Decision and Control, 2019, 203, pp. 201-226
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© 2019, Springer Nature Switzerland AG. We proposed a novel fuzzy multistage control model of sustainable regional agricultural development which better reflects specific features of human stakeholders. First, we use fuzzy logic for the modeling of imprecision in human judgments, intentions, preferences, evaluations, etc. Second, we propose to reflect in the model the so called status quo bias of the humans which basically stands for a common propensity of the humans to stay with known and already employed procedures and courses of action, avoiding larger changes. We develop therefore a human centric model. We also indicate that the inclusion of the status quo bias can be viewed as a way to mitigate risk which is crucial, notably in the case of agriculture. We present some simple example of how a best (optimal) investment policy can be obtained under different development scenarios, and indicate what change the inclusion of the status quo bias brings.
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