Diminishing Utility Decision Model for Weighting Criteria

Jih-Jeng Huang () and Masahiro Inuiguchi ()
Additional contact information
Jih-Jeng Huang: Department of Computer Science & Information Management, SooChow University No. 56 Kueiyang Street, Section 1, Taipei 100, Taiwan
Masahiro Inuiguchi: Division of Mathematical Social System Science, Department of Systems Innovation, Graduate School of Engineering Science, Osaka University Machikaneyama-cho 1–3, Toyonaka, Osaka 560–8531, Japan

International Journal of Information Technology & Decision Making (IJITDM), 2015, vol. 14, issue 06, 1263-1284

Abstract: The analytic hierarchy/network process (analytic hierarchy process (AHP)/analytic network process (ANP)) became the most popular tool for weighting criteria in the field of multiple criteria analysis during the 1980s. However, these models often suffer from criticisms because of their theoretical and practical problems. In this paper, the diminishing utility decision model (DUDM) is proposed in order to retain the pros and avoid the cons of the AHP and ANP for weighting criteria. The DUDM integrates the AHP and the concept of diminishing marginal utility in order to model the main and interaction weights of criteria, respectively. From the results of the numerical examples, it can be seen that the proposed method can solve two major limitations of the ANP. First, the proposed method can significantly reduce the number of questions that are asked in the ANP. Second, the proposed method can ensure convergence in many situations and avoid the problem of the ANP with regard to the absorbing state.

Keywords: Multiple criteria analysis; analytic hierarchy process (AHP); diminishing utility decision model (DUDM); diminishing marginal utility; analytic network process (ANP); interaction weights; convergence (search for similar items in EconPapers)
Date: 2015
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.worldscientific.com/doi/abs/10.1142/S0219622015500303
Access to full text is restricted to subscribers

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:wsi:ijitdm:v:14:y:2015:i:06:n:s0219622015500303

Ordering information: This journal article can be ordered from

DOI: 10.1142/S0219622015500303

Access Statistics for this article

International Journal of Information Technology & Decision Making (IJITDM) is currently edited by Yong Shi

More articles in International Journal of Information Technology & Decision Making (IJITDM) from World Scientific Publishing Co. Pte. Ltd.
Bibliographic data for series maintained by Tai Tone Lim ().