Further Developments and Tests of a Progressive Algorithm for Multiple Criteria Decision Making

Pekka Korhonen, Herbert Moskowitz, Pekka Salminen and Jyrki Wallenius
Additional contact information
Herbert Moskowitz: Purdue University, West Lafayette, Indiana
Pekka Salminen: University of Jyvaskyla, Jyvaskyla, Finland
Jyrki Wallenius: Helsinki School of Economics and Business Administration, Helsinki, Finland

Operations Research, 1993, vol. 41, issue 6, 1033-1045

Abstract: P. Korhonen, H. Moskowitz, and J. Wallenius (1986) developed a progressive algorithm and the supporting theory for modeling and solving multiple criteria decision problems with discrete alternatives. A special feature of the algorithm is that it relaxes the usual assumption of a fixed set of available decision alternatives and complete knowledge of a decision maker's (DM's) preference structure or value function. The algorithm is based on progressively sampling the decision space, obtaining preference information from the DM, determining the likelihood of finding possibly/surely better alternatives, and based on this information, continuing the search or terminating it by making the final choice. We describe a computerized implementation and extensive computational tests of the algorithm, as well as some of our experiences in applying and field testing it in practice. We also consider several improvements and developments of the algorithm to further facilitate its use in practice.

Keywords: decision analysis: sequential; programming: multiple criteria; utility/preference: applications; multiattribute theory (search for similar items in EconPapers)
Date: 1993
References: Add references at CitEc
Citations: View citations in EconPapers (7)

Downloads: (external link)
http://dx.doi.org/10.1287/opre.41.6.1033 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:inm:oropre:v:41:y:1993:i:6:p:1033-1045

Access Statistics for this article

More articles in Operations Research from INFORMS Contact information at EDIRC.
Bibliographic data for series maintained by Chris Asher ().