Sensitivity Analysis in Multi-objective Decision Making

Sensitivity Analysis in Multi-objective Decision Making PDF

Author: David Rios Insua

Publisher: Springer Science & Business Media

Published: 2013-06-29

Total Pages: 204

ISBN-13: 3642516564

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The axiomatic foundations of the Bayesian approach to decision making assurne precision in the decision maker's judgements. In practicc, dccision makers often provide only partial and/or doubtful information. We unify and expand results to deal with those cases introducing a general framework for sensitivity analysis in multi-objective decision making. We study first decision making problems under partial information. We provide axioms leading to modelling preferences by families of value functions, in problems under certainty, and moJelling beliefs by families of probability distributions and preferences by familics of utility functions, in problems under uncertainty. Both problems are treated in parallel with the same parametric model. Alternatives are ordered in a Pareto sense, the solution of the problem being the set of non dominated alternatives. Potentially optimal solutions also seem acceptable, from an intuitive point of view and due to their relation with the nondominated ones. Algorithms are provided to compute these solutions in general problems and in cases typical in practice: linear and bilinear problems. Other solution concepts are criticised on the grounds of being ad hoc. In summary, we have a more ro bust theory of decision making based on a weaker set ofaxioms, but embodying coherence, since it essentially implies carrying out a family of coherent dccision anitlyses.

A Framework for Sensitivity Analysis in Discrete Multi-objective Decision-making

A Framework for Sensitivity Analysis in Discrete Multi-objective Decision-making PDF

Author: David Rios Insua

Publisher:

Published: 1988

Total Pages: 26

ISBN-13:

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We introduce several solution concepts, and analytic ways of determining them, which allow us to identify the possible competitors of a current best solution. We analyse, then, distance-based tools for sensitivity analysis, according to some general lines. Finally, we describe some computational experience with a real example and suggest some ways of displaying the information to the decision-maker."

Multi-criteria Decision Making Methods

Multi-criteria Decision Making Methods PDF

Author: Evangelos Triantaphyllou

Publisher: Springer Science & Business Media

Published: 2013-03-09

Total Pages: 307

ISBN-13: 1475731574

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Multi-Criteria Decision Making (MCDM) has been one of the fastest growing problem areas in many disciplines. The central problem is how to evaluate a set of alternatives in terms of a number of criteria. Although this problem is very relevant in practice, there are few methods available and their quality is hard to determine. Thus, the question `Which is the best method for a given problem?' has become one of the most important and challenging ones. This is exactly what this book has as its focus and why it is important. The author extensively compares, both theoretically and empirically, real-life MCDM issues and makes the reader aware of quite a number of surprising `abnormalities' with some of these methods. What makes this book so valuable and different is that even though the analyses are rigorous, the results can be understood even by the non-specialist. Audience: Researchers, practitioners, and students; it can be used as a textbook for senior undergraduate or graduate courses in business and engineering.

Strategic Decision Making

Strategic Decision Making PDF

Author: Craig W. Kirkwood

Publisher: Brooks/Cole

Published: 1997

Total Pages: 388

ISBN-13:

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This work on strategic decision making focuses on multi-objective decision analysis with spreadsheets

Multiobjective Decision Support for Environmental Management

Multiobjective Decision Support for Environmental Management PDF

Author: R. Janssen

Publisher: Springer Science & Business Media

Published: 2012-12-06

Total Pages: 287

ISBN-13: 9401128073

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Multiple criteria decision making is a major and rapidly growing field of research. Methods resulting from this field of research are used in this book to develop a Multiobjective Decision Support Systems (MODSS) for environmental management. The primary focus of the book is therefore on the issues and practicalities that arise when these methods are applied to support decisions on environmental problems. Most methods included in this book are derived from the literature on multicriteria decision making, decision anlysis and operations research. Concepts developed in management science are used to describe environmental decision processes and to define the functions of decision support. The author's work on MODSS has resulted in the development of a decision support package, called DEFINITE (DEcisions on a FINITE set of alternatives). A demonstration version of this programme is included with the book. This Demo Disk can be run on a MS-DOS compatible personal computer (version 2.0 or higher) having a 3,5 inch, 720 Kb disk drive and 640 Kb available RAM.

The Multi-Criteria Approach for Decision Support

The Multi-Criteria Approach for Decision Support PDF

Author: Lotfi Azzabi

Publisher: Springer Nature

Published: 2020-09-11

Total Pages: 92

ISBN-13: 3030572625

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This book presents the multi-criteria approach to decision support, as well as the various multi-criteria tools to help avoid multi-objective optimization. The book is intended as a tool for understanding the multi-criteria tools for decision support and modeling in mathematical programming. It helps to structure models, to easily model complex constraints, to have a basic modeling guide for any multi-criteria system and to better understand models already existing in the literature. The book is structured in the same order as components of the methodology, established in a multi-criteria optimization problem. It introduces the elements of the actors, the decision-making activity under criteria, calculations, specifications and objective criterion.

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