Multiattribute preference models with reference points

Denis Bouyssou and Thierry Marchant

European Journal of Operational Research, 2013, vol. 229, issue 2, 470-481

Abstract: In the context of multiple attribute decision making, preference models making use of reference points in an ordinal way have recently been introduced in the literature. This text proposes an axiomatic analysis of such models, with a particular emphasis on the case in which there is only one reference point. Our analysis uses a general conjoint measurement model resting on the study of traces induced on attributes by the preference relation and using conditions guaranteeing that these traces are complete. Models using reference points are shown to be a particular case of this general model. The number of reference points is linked to the number of equivalence classes distinguished by the traces. When there is only one reference point, the induced traces are quite rough, distinguishing at most two distinct equivalence classes. We study the relation between the model using a single reference point and other preference models proposed in the literature, most notably models based on concordance and models based on a discrete Sugeno integral.

Keywords: Multiple criteria decision making; Reference point; Conjoint measurement (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (12)

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Related works:
Working Paper: Multiattribute preference models with reference points (2013)
Working Paper: Multiattribute preference models with reference points (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ejores:v:229:y:2013:i:2:p:470-481

DOI: 10.1016/j.ejor.2013.02.046

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