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Decisions with Multiple Objectives: Preferences and Value Trade-Offs
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In this article, a confused decision maker, who wishes to make a reasonable and responsible choice among alternatives, can systematically probe his true feelings in order to make those critically important, vexing trade-offs between incommensurable objectives.Abstract:
Many of the complex problems faced by decision makers involve multiple conflicting objectives. This book describes how a confused decision maker, who wishes to make a reasonable and responsible choice among alternatives, can systematically probe his true feelings in order to make those critically important, vexing trade-offs between incommensurable objectives. The theory is illustrated by many real concrete examples taken from a host of disciplinary settings. The standard approach in decision theory or decision analysis specifies a simplified single objective like monetary return to maximise. By generalising from the single objective case to the multiple objective case, this book considerably widens the range of applicability of decision analysis.read more
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Prospect theory: an analysis of decision under risk
Daniel Kahneman,Amos Tversky +1 more
TL;DR: In this paper, the authors present a critique of expected utility theory as a descriptive model of decision making under risk, and develop an alternative model, called prospect theory, in which value is assigned to gains and losses rather than to final assets and in which probabilities are replaced by decision weights.
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Probabilistic Reasoning in Intelligent Systems: Networks of Plausible Inference
TL;DR: Probabilistic Reasoning in Intelligent Systems as mentioned in this paper is a complete and accessible account of the theoretical foundations and computational methods that underlie plausible reasoning under uncertainty, and provides a coherent explication of probability as a language for reasoning with partial belief.
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Evolutionary algorithms for solving multi-objective problems
TL;DR: This paper presents a meta-anatomy of the multi-Criteria Decision Making process, which aims to provide a scaffolding for the future development of multi-criteria decision-making systems.
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Conjoint Analysis in Consumer Research: Issues and Outlook
Paul E. Green,V. Srinivasan +1 more
TL;DR: In this paper, the authors discuss various issues involved in implementing conjoint analysis and describe some new technical developments and application areas for the methodology, which has been applied to a wide variety of problems in consumer research.
Journal ArticleDOI
Electronic markets and electronic hierarchies
TL;DR: By reducing the costs of coordination, information technology will lead to an overall shift toward proportionately more use of markets—rather than hierarchies—to coordinate economic activity.