Research on the Properties of the AHP in the Environment of Inaccurate Expert Evaluations

Paweł Ziemba (), Jarosław Wątróbski (), Jarosław Jankowski () and Mateusz Piwowarski ()
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Paweł Ziemba: Jacob of Paradyż University of Applied Sciences in Gorzów Wielkopolski
Jarosław Wątróbski: West Pomeranian University of Technology Szczecin
Jarosław Jankowski: West Pomeranian University of Technology Szczecin
Mateusz Piwowarski: West Pomeranian University of Technology Szczecin

Chapter Chapter 15 in Selected Issues in Experimental Economics, 2016, pp 227-243 from Springer

Abstract: Abstract The chapter deals with the issue of preference aggregation from pairwise comparison matrices in the AHP. The technique is widely used in economic research as a tool supporting decision making in finance, management and experimental economics. When inaccurate expert evaluations are made, it is essential to employ a procedure, in the technique, which correctly aggregates a decision-maker’s preferences and makes it possible to find a proper solution to a decision problem. In this chapter, with the use of simulations, fourteen aggregation procedures with different degrees of expert evaluation inaccuracies and for different sizes of decision problems are examined. Among the researched procedures there were: classical ones, based on column sums and a eigenvector of a matrix; ones based on the method of least squares using error minimization; as well as the method of a data envelope. As a result, procedures are indicated which aggregate a decision-maker’s assessment in the most precise manner and which find solutions closest to a reference.

Keywords: AHP method; Economic experiment (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-319-28419-4_15

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DOI: 10.1007/978-3-319-28419-4_15

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