ARACE – A New Method for Verbal Decision Analysis

Denis P. Oleynikov (), Lyudmila N. Butenko (), Helen M. Moshkovich () and Alexander I. Mechitov ()
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Denis P. Oleynikov: CAD/CAE Systems Department, Volgograd State Technical University, Lenin avenue, 28, Volgograd 400005, Russia
Lyudmila N. Butenko: CAD/CAE Systems Department, Volgograd State Technical University, Lenin avenue, 28, Volgograd 400005, Russia
Helen M. Moshkovich: Stephens' College of Business, University of Montevallo, Montevallo 35115, USA
Alexander I. Mechitov: Stephens' College of Business, University of Montevallo, Montevallo 35115, USA

International Journal of Information Technology & Decision Making (IJITDM), 2015, vol. 14, issue 01, 115-140

Abstract: ARACE is a new method developed within the framework of Verbal Decision Analysis (VDA). VDA methods work with verbal form of preference elicitation and evaluation of alternatives without resorting to numbers. ARACE is based on the ideas of the VDA method ZAPROS but uses a more flexible approach to inconsistency of the decision-maker's preferences by introducing a special construct of a "quasi-expert." Mismatched preferences of the decision-maker are viewed as preferences of several quasi-experts. The preference system for each quasi-expert is transitive, leading to consistent decision rules formed for each quasi-expert separately. These rules are used to compare alternatives. Differences in possible comparison of alternatives based on different quasi-experts are resolved through a Clustered Rankings Method for rankings with ties.

Keywords: Verbal decision analysis; multiple criteria; ZAPROS; decision support system; ordinal judgments; 68U35; 91B06 (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (2)

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DOI: 10.1142/S0219622014500801

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