@inproceedings{1d6954b802f148209878679d8cd6a6c1,
title = "Utility function under decision theory: A construction arbitration application",
abstract = "While a wide range of dispute resolution mechanisms exist, practitioners favor legally binding ones such as litigation and arbitration. Since initiating a litigation or arbitration case against a business partner may dissolve the business relationship between them, predicting the arbitrator's decision becomes valuable to the arbitrating parties. This paper proposes a construction-specific utility framework for the arbitrating party through decision theory, and based on expected utility theory. The proposed framework preserves the industry practicality and most importantly, considers direct short-term factors and indirect long-term factors as well. It is suggested that the arbitrating parties' utility functions could be then used to identify equilibrium points among them when interact via game theory principles, which would serve the purpose of predicting the arbitration outcome.",
author = "Alozn, {Ahmad E.} and Abdulla Galadari",
note = "Publisher Copyright: {\textcopyright} 2017 Author(s).; 2nd International Conference on Mathematics - Pure, Applied and Computation: Empowering Engineering using Mathematics, ICoMPAC 2016 ; Conference date: 23-11-2016",
year = "2017",
month = aug,
day = "1",
doi = "10.1063/1.4994404",
language = "British English",
series = "AIP Conference Proceedings",
editor = "Dieky Adzkiya",
booktitle = "International Conference on Mathematics - Pure, Applied and Computation",
}