Methods of determining objective, subjective and integrated weights of attributes

Leonas Ustinovichius

International Journal of Management and Decision Making, 2007, vol. 8, issue 5/6, 540-554

Abstract: In various papers, the weights of attributes are subdivided into objective and subjective. Subjective and objective approaches have a number of advantages and disadvantages. Objective and subjective weights of attributes were analysed. The need for calculating the integrated weightiness was revealed. A special method for determining the integrated weightiness of criteria is suggested. By this approach the objective weightiness of the attributes is defined by means of the entropy method, while the subjective weightiness is found by pairwise comparison. A system of equations to be used in calculating the integrated weightiness was suggested and validated. The application of the method suggested was demonstrated by sample problem of comparing the alternatives available in purchasing an office for a firm.

Keywords: decision making; objective weights; attributes; subjective weights; integrated weights; normalisation; entropy; pairwise comparison; purchasing alternatives. (search for similar items in EconPapers)
Date: 2007
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