Lp-metric sensitivity analysis for single and multi-attribute decision analysis

Article Abstract:

A second measure of sensitivity and a new approach for sensitivity analysis are presented. The second measure considers an alternative to be insensitive if it satisfies an additional requirement aside from that imposed by the rank order implied by the probabilities that led to the original best solution. The new methodology is a more general approach than previous methods. It is tractable and intuitive and is applicable to both single and multi-attribute decision problems.

Operations Research, Decision-making, Models, Decision making, Analysis, Statistical decision, Statistical decision theory, Decision theory

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Comparing the predictive validity of alternatively assessed multi-attribute preference models when relevant decision attributes are missing

Article Abstract:

The predictive performance of three preference models used in multi-attribute decision making was compared. Specifically, the behavior the Keeney-Raiffa, the HOPE and the Simple Multi-Attribute Rating Technique in situations wherein the decision maker renders erroneous preference responses and several attributes are neglected in the elicitation process was evaluated. The results demonstrated the sensitivity of preference predictions to the assessment procedure used.

Operations research, Research, Management science, Multiple criteria decision making, Case studies, Utility theory, Utility functions

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