Abstract

Y. Liu and S. Koenig. Risk-Sensitive Planning with One-Switch Utility Functions: Value Iteration. In Proceedings of the AAAI Conference on Artificial Intelligence (AAAI), pages 993-999, 2005.

Abstract: Decision-theoretic planning with nonlinear utility functions is important since decision makers are often risk-sensitive in high-stake planning situations. One-switch utility functions are an important class of nonlinear utility functions that can model decision makers whose decisions change with their wealth level. We study how to maximize the expected utility of a Markov decision problem for a given one-switch utility function, which is difficult since the resulting planning problem is not decomposable. We first study an approach that augments the states of the Markov decision problem with the wealth level. The properties of the resulting infinite Markov decision problem then allow us to generalize the standard risk-neutral version of value iteration from manipulating values to manipulating functions that map wealth levels to values. We use a probabilistic blocks-world example to demonstrate that the resulting risk-sensitive version of value iteration is practical.

Download the paper in pdf.

Many publishers do not want authors to make their papers available electronically after the papers have been published. Please use the electronic versions provided here only if hardcopies are not yet available. If you have comments on any of these papers, please send me an email! Also, please send me your papers if we have common interests.


This page was automatically created by a bibliography maintenance system that was developed as part of an undergraduate research project, advised by Sven Koenig.