Interactive Approaches for Discrete Alternative Multiple Criteria Decision Making with Monotone Utility Functions

In this paper we develop interactive approaches for the discrete alternative multiple criteria decision making problem. We develop an algorithm that finds the most preferred alternative of a decision maker (DM) assuming only that the DM has a monotonic utility function. The algorithm divides the cri...

Full description

Saved in:
Bibliographic Details
Published in:Management science 1995-07, Vol.41 (7), p.1158-1171
Main Authors: Koksalan, M. Murat, Sagala, Paul N. S
Format: Article
Language:English
Subjects:
Algorithms
Applied sciences
Computer graphics
Decision making
Decision making models
Decision theory. Utility theory
Distance functions
Exact sciences and technology
Incumbents
Management science
Mathematical monotonicity
monotone utility function
multiple criteria
Multiple criteria decision making
Nadir
Operational research and scientific management
Operational research. Management science
Point estimators
Quadratic functions
Studies
Tradeoffs
Utility functions
Citations: Items that cite this one
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:In this paper we develop interactive approaches for the discrete alternative multiple criteria decision making problem. We develop an algorithm that finds the most preferred alternative of a decision maker (DM) assuming only that the DM has a monotonic utility function. The algorithm divides the criteria space into a number of smaller subspaces and then uses the ideal points of these subspaces to eliminate alternatives. We also develop a more efficient version of the algorithm for the more restrictive case of a monotonic quasiconcave utility function. We present favorable computational results in terms of the required number of pairwise comparisons for both versions of the algorithm. We then develop a general algorithm that first identifies the type of the DM's utility function and then employs the approach that is compatible with the identified utility function type. We also present computational results for the general algorithm.
ISSN:0025-1909
1526-5501
DOI:10.1287/mnsc.41.7.1158