Multiple‐attribute decision making with partial information: The expected‐value criterion

Johnnie R. Charnetski and Richard M. Soland

Naval Research Logistics Quarterly, 1979, vol. 26, issue 2, 249-256

Abstract: We consider the multiple‐attribute decision problem with finite action set and additive utility function. We suppose that the decision maker cannot specify nonnegative weights for the various attributes which would resolve the problem, but that he/she supplies ordinal information about these weights which can be translated into a set of linear constraints restricting their values. A bounded polytope W of feasible weight vectors is thus determined. Supposing that each element of W has the same chance of being the “appropriate one,” we compute the expected utility value of each action. The computation method uses a combination of numerical integration and Monte Carlo simulation and is equivalent to finding the center of mass of the bounded polytope W. Comparisons are made with another criterion already presented, the comparative hyper‐volume criterion, and two small examples are presented.

Date: 1979
References: Add references at CitEc
Citations:

Downloads: (external link)
https://doi.org/10.1002/nav.3800260206

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:wly:navlog:v:26:y:1979:i:2:p:249-256

Access Statistics for this article

More articles in Naval Research Logistics Quarterly from John Wiley & Sons
Bibliographic data for series maintained by Wiley Content Delivery ().