<?xml version="1.0" encoding="UTF-8"?>
<article article-type="Research Article">
  <front>
    <journal-meta>
      <journal-id journal-id-type="publisher">journal-of-information-and-optimization-sciences</journal-id>
      <journal-title-group>
        <journal-title>Journal of Information and Optimization Sciences</journal-title>
      </journal-title-group>
      <issn publication-format="electronic">2169-0103</issn>
      <issn publication-format="print">0252-2667</issn>
      <publisher>
        <publisher-name>Taru Publications</publisher-name>
      </publisher>
    </journal-meta>
    <article-meta>
      <article-id pub-id-type="doi">10.47974/JIOS-1882</article-id>
      <title-group>
        <article-title>Establishing a stochastic model for optimal decision making incorporating a random sum of discounted random variables</article-title>
      </title-group>
      <contrib-group>
        <contrib contrib-type="author" corresp="yes">
          <name>
            <surname>Artikis</surname>
            <given-names>Constantinos T.</given-names>
          </name>
          <aff>Department of Tourism, Faculty of Economic Sciences, Ionian University, Corfu, 49132, Greece</aff>
        </contrib>
        <contrib contrib-type="author">
          <name>
            <surname>Artikis</surname>
            <given-names>Panagiotis T.</given-names>
          </name>
          <aff>Department of Accounting &amp; Finance, School of Management, Economic &amp; Social Sciences, University of West Attica, Egaleo, Athens, 12244, Greece</aff>
        </contrib>
      </contrib-group>
      <volume>46</volume>
      <issue>3</issue>
      <fpage>831</fpage>
      <lpage>850</lpage>
      <pub-date date-type="pub">
        <day>03</day>
        <month>04</month>
        <year>2025</year>
      </pub-date>
      <abstract>
        <p>Stochastic modelling strongly contributes to the decision making process. The paper establishes a stochastic model by combining a random variable and a random sum. The theoretical importance of the model is derived by evaluating its characteristic function, while the applicability of the model as an indicator for decision making in various disciplines consists its practical contribution. The paper performs a simulation and analyzes the outcomes.</p>
      </abstract>
      <kwd-group>
        <kwd>Stochastic model</kwd>
        <kwd>Random sum</kwd>
        <kwd>Decision making</kwd>
        <kwd>Simulation</kwd>
      </kwd-group>
      <custom-meta-group>
        <custom-meta>
          <meta-name>access</meta-name>
          <meta-value>open</meta-value>
        </custom-meta>
        <custom-meta>
          <meta-name>retracted</meta-name>
          <meta-value>no</meta-value>
        </custom-meta>
      </custom-meta-group>
    </article-meta>
  </front>
</article>
