Decision Quality Using Ranked Attribute Weights

F. Hutton Barron and Bruce E. Barrett
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F. Hutton Barron: Department of Management Science and Statistics, College of Commerce and Business Administration, University of Alabama, Tuscaloosa, Alabama 35487-0226
Bruce E. Barrett: Department of Management Science and Statistics, College of Commerce and Business Administration, University of Alabama, Tuscaloosa, Alabama 35487-0226

Management Science, 1996, vol. 42, issue 11, 1515-1523

Abstract: Three published approximation formulae for selecting the best multiattribute alternative based on rank-ordered weights are evaluated. All formulae are surprisingly efficacious in determining the best multiattribute alternative. Rank order centroid (ROC) weights are more accurate than the other rank-based formulae; furthermore, the ROC formula generalizes to incorporate both other forms of partial information about attribute weights and partial rank order information as well. Because a ROC-based analysis is so straightforward and efficacious, it provides an appropriate implementation tool.

Keywords: approximating weights; multiattribute decisions; partial information; weights (search for similar items in EconPapers)
Date: 1996
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