Estimating the Robustness of Composite CBA and MCA Assessments by Variation of Criteria Importance Order

Anders Vestergaard Jensen (), Michael Bruhn Barfod and Steen Leleur
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Anders Vestergaard Jensen: Technical University of Denmark
Michael Bruhn Barfod: Technical University of Denmark
Steen Leleur: Technical University of Denmark

Chapter Chapter 5 in New State of MCDM in the 21st Century, 2011, pp 59-67 from Springer

Abstract: Abstract This paper discusses the concept of using rank variation concerning the stakeholder prioritising of importance criteria for exploring the sensitivity of criteria weights in multi-criteria analysis (MCA). Thereby the robustness of the MCA-based decision support can be tested. The analysis described is based on the fact that when using MCA as a decision-support tool, questions often arise about the weighting (or prioritising) of the included criteria. This part of the MCA is seen as the most subjective part and could give reasons for discussion among the decision makers or stakeholders. Furthermore, the relative weights can make a large difference in the resulting assessment of alternatives (Hobbs and Meier 2000). Therefore it is highly relevant to introduce a procedure for estimating the importance of criteria weights. This paper proposes a methodology for estimating the robustness of weights used in additive utility models.

Keywords: COSIMA; Decision-support tool; Multi-criteria analysis; Rank order distribution; Stakeholder preference (search for similar items in EconPapers)
Date: 2011
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DOI: 10.1007/978-3-642-19695-9_5

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