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Tight upper bounds for the expected loss of lexicographic heuristics in binary multi-attribute choice

Juan A. Carrasco and Manel Baucells ()

Mathematical Social Sciences, 2008, vol. 55, issue 2, 156-189

Abstract: Tight upper bounds for the expected loss of the DEBA (Deterministic-Elimination-By-Aspects) lexicographic selection heuristic are obtained for the case of an additive separable utility function with unknown non-negative, non-increasing attribute weights for numbers of alternatives and attributes as large as 10 under two probabilistic models: one in which attributes are assumed to be independent Bernouilli random variables and another one with positive inter-attribute correlation. The upper bounds improve substantially previous bounds and extend significantly the cases in which a good performance of DEBA can be guaranteed under the assumed cognitive limitations.

Date: 2008
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Handle: RePEc:eee:matsoc:v:55:y:2008:i:2:p:156-189