Dominance, potential optimality and alternative ranking in imprecise multi-attribute decision making

A Mateos (), S Ríos-Insua () and A Jiménez ()
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A Mateos: Technical University of Madrid
S Ríos-Insua: Technical University of Madrid
A Jiménez: Technical University of Madrid

Journal of the Operational Research Society, 2007, vol. 58, issue 3, 326-336

Abstract: Abstract In this paper, we introduce a methodology based on an additive multiattribute utility function that does not call for precise estimations of the inputs, such as utilities, attribute weights and performances of decision alternatives. The information about such inputs is assumed to be in the form of ranges, which constitute model constraints and give rise to nonlinear programming problems. This has significant drawbacks for outputting the sets of non-dominated and potentially optimal alternatives for such problems, and we, therefore, propose their transformation into equivalent linear programming problems. The set of non-dominated and potentially optimal alternatives is a non-ranked set and can be very large, which makes the choice of the most preferred alternative very difficult. The above problem is solved by proposing several methods for alternative ranking. An application to the disposal of surplus weapons-grade plutonium is considered, showing the advantages of this approach.

Keywords: decision analysis; multi-attribute utility; imprecise inputs; dominance; potential optimality (search for similar items in EconPapers)
Date: 2007
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Citations: View citations in EconPapers (3)

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DOI: 10.1057/palgrave.jors.2602158

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