R&D portfolio selection by using qualitative pairwise comparisons

E Van Dyk and Dg Smith

Omega, 1990, vol. 18, issue 6, 583-594

Abstract: A new multicriteria decision aid, QualScal, is applied to the problem of selecting an extramural Fisheries R&D portfolio in the Ministry of Agriculture, Fisheries and Food. QualScal has been developed for the situation where the characteristics of the decision alternatives cannot be readily quantified. The decision-maker is only required to state either indifference or preference for each pair of the alternatives. A map representing the preference structure of the decision maker is produced with the aid of an enhanced version of the traditional nonmetric multidimensional scaling procedure, capable of scaling disjoint subsets of alternatives. Averaged results for the group of decision-makers facilitate a discussion to determine a mutually acceptable portfolio.

Keywords: multicriteria; decision; multidimensional; scaling; pairwise; comparisons; portfolio; selection (search for similar items in EconPapers)
Date: 1990
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