Verbal Decision Analysis

Helen Moshkovich (), Alexander Mechitov () and David Olson ()
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Helen Moshkovich: The University of Montevallo
Alexander Mechitov: The University of Montevallo
David Olson: University of Nebraska, Lincoln

Chapter Chapter 15 in Multiple Criteria Decision Analysis, 2016, pp 605-636 from Springer

Abstract: Abstract Verbal Decision Analysis is a new methodological approach for the construction of decision methods with multiple criteria. The approach is based on cognitive psychology, applied mathematics, and computer science. Problems of eliciting exact quantitative estimations from the decision makers may be overcome by using preferential information from the decision makers in the ordinal form (e.g., “more preferable”, “less preferable”,…). This type of judgments is known to be much more stable and consistent. Ways of how to obtain and use ordinal judgments for alternatives’ evaluation on multiple criteria are discussed. The family of decision methods based on the approach is described.

Keywords: Decision analysis; Multiple criteria; Ordinal judgments; Preference elicitation; ZAPROS; ORCLASS (search for similar items in EconPapers)
Date: 2016
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DOI: 10.1007/978-1-4939-3094-4_15

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