One-Shot Decision Making with Regret

This paper focuses on one-shot (one-time) decision problems, which are typical for situations where a decision is made only once. In this research, the one-shot decision approaches with considering regret are proposed for dealing with such one-shot decision problems. The one-shot decision process comprises two steps. The first step is to identify which state of nature should be taken into account for each alternative based on a decision maker's different attitudes about possibility and regret. The second step is to evaluate the alternatives to obtain the optimal alternative. The identified states of nature are called regret focus points. Three kinds of regret focus points are proposed in this paper.