A Survey of Multiattribute/Multicriterion Evaluation Theories

Fishburn, Peter C.

doi:10.1007/978-3-642-46368-6_9

Cited by 44 publications

(41 citation statements)

References 243 publications

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“…There is extensive literature on the representation of multiattribute preferences; why not apply it here? Miyamoto and Wakker [25] unify and generalize the literature on representations of multiattribute preference orderings that had been reviewed 20 years earlier (Dyer and Sarin [8], Farquhar [10], Fishburn [12], Keeney and Raiffa [17]). Indeed, a section of Miyamoto and Wakker [25] obtains the EDF representation (4).…”

Section: Multiattribute Preference Theorymentioning

confidence: 86%

“…In a deterministic setting, the converse of (12) is as innocuous as (12) is itself. The situation is quite different in a stochastic setting where the converse of (12) is even more objectionable than (12) itself. The combination of (12) and (15) is a version of the "independence" assumption that is omnipresent in preference theory, and its descriptive validity has long been questioned (Luce and Raiffa [22]).…”

Section: Axioms Regarding a Preference Ordering Onmentioning

confidence: 97%

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The Trojan Horse of Time–Risk Preference Representations

Sobel¹

2010

Risk and Optimization in an Uncertain World

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Throughout the management sciences, individuals and organizations compare alternatives with consequences that are risky and unfold over time. This tutorial examines representations of preferences that are sensitive to timing and risk. It reviews the logical foundations of the two major contending representations and finds that each of them is self-contradictory. In particular, properties of preferences that are consistent with discounting are also consistent with risk neutrality. In this sense, discounting implies risk neutrality. Then the tutorial briefly examines the prospects of developing new representations that are logically consistent. The tutorial ends by applying the various representations to a model of a supply chain contract.

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Section: Multiattribute Preference Theorymentioning

confidence: 86%

Section: Axioms Regarding a Preference Ordering Onmentioning

confidence: 97%

The Trojan Horse of Time–Risk Preference Representations

Sobel¹

2010

Risk and Optimization in an Uncertain World

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“…Concisely, Roy [10] has suggested that decision-making situations can be categorized on the basis of decision problematics [11]. Different kinds of compensation logic are examined by Vincke [12] and shared by Colson and De Bruyn [13] and further studies [14,35], for example Guitony et al [15] and Huang et al [8] who investigated the required input information. In this paper, a set of endogenous variables is defined as that which best represents the most useful occurring in the related literature and according to the survey performed by Ishizaka et Nemery P. [9].…”

Section: Frameworkmentioning

confidence: 99%

A Methodology for the Selection of Multi-Criteria Decision Analysis Methods in Real Estate and Land Management Processes

2018

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Real estate and land management are characterised by a complex, elaborate combination of technical, regulatory and governmental factors. In Europe, Public Administrators must address the complex decision-making problems that need to be resolved, while also acting in consideration of the expectations of the different stakeholders involved in settlement transformation. In complex situations (e.g., with different aspects to be considered and multilevel actors involved), decision-making processes are often used to solve multidisciplinary and multidimensional analyses, which support the choices of those who are making the decision. Multi-Criteria Decision Analysis (MCDA) methods are included among the examination and evaluation techniques considered useful by the European Community. Such analyses and techniques are performed using methods, which aim to reach a synthesis of the various forms of input data needed to define decision-making problems of a similar complexity. Thus, one or more of the conclusions reached allow for informed, well thought-out, strategic decisions. According to the technical literature on MCDA, numerous methods are applicable in different decision-making situations, however, advice for selecting the most appropriate for the specific field of application and problem have not been thoroughly investigated. In land and real estate management, numerous queries regarding evaluations often arise. In brief, the objective of this paper is to outline a procedure with which to select the method best suited to the specific queries of evaluation, which commonly arise while addressing decision-making problems. In particular issues of land and real estate management, representing the so-called "settlement sector". The procedure will follow a theoretical-methodological approach by formulating a taxonomy of the endogenous and exogenous variables of the multi-criteria analysis methods.

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“…Their characterization is based on a condition called "qualitative independence" (and later called "ordinal invariance" in Dubois et al (2003aDubois et al ( , 2002) that is a slight variant (using a reflexive relation instead of an asymmetric one) of the "noncompensation" condition introduced in Fishburn (1975Fishburn ( , 1976Fishburn ( , 1978 which, in turn, is a "single profile" analogue of the independence condition used in Arrow's theorem (see Sen, 1986). …”

Section: Comparison With Fargier and Perny (1999) And Dubois Et Al (mentioning

confidence: 99%

On some ordinal models for decision making under uncertainty

Bouyssou

Pirlot

2008

Ann Oper Res

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In the field of Artificial Intelligence many models for decision making under uncertainty have been proposed that deviate from the traditional models used in Decision Theory, i.e. the Subjective Expected Utility (SEU) model and its many variants. These models aim at obtaining simple decision rules that can be implemented by efficient algorithms while based on inputs that are less rich than what is required in traditional models. One of these models, called the likely dominance (LD) model, consists in declaring that an act is preferred to another as soon as the set of states on which the first act gives a better outcome than the second act is judged more likely than the set of states on which the second act is preferable. The LD model is at much variance with the SEU model. Indeed, it has a definite ordinal flavor and it may lead to preference relations between acts that are not transitive. This paper proposes a general model for decision making under uncertainty tolerating intransitive and/or incomplete preferences that will contain both the SEU and the LD models as particular cases. Within the framework of this general model, we propose a characterization of the preference relations that can be obtained with the LD model. This characterization shows that the main distinctive feature of such relations lies in the very poor relation comparing preference differences that they induce on the set of outcomes.

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A Survey of Multiattribute/Multicriterion Evaluation Theories

Cited by 44 publications

References 243 publications

The Trojan Horse of Time–Risk Preference Representations

The Trojan Horse of Time–Risk Preference Representations

A Methodology for the Selection of Multi-Criteria Decision Analysis Methods in Real Estate and Land Management Processes

On some ordinal models for decision making under uncertainty

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