How to compromise on the best price? A group tacit knowledge-based multicriteria approach

Pierre-Emmanuel Arduin (), Brice Mayag (), Elsa Negre () and Camille Rosenthal-Sabroux
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Pierre-Emmanuel Arduin: DRM - Dauphine Recherches en Management - Université Paris Dauphine-PSL - PSL - Université Paris Sciences et Lettres - CNRS - Centre National de la Recherche Scientifique
Brice Mayag: LAMSADE - Laboratoire d'analyse et modélisation de systèmes pour l'aide à la décision - Université Paris Dauphine-PSL - PSL - Université Paris Sciences et Lettres - CNRS - Centre National de la Recherche Scientifique
Elsa Negre: LAMSADE - Laboratoire d'analyse et modélisation de systèmes pour l'aide à la décision - Université Paris Dauphine-PSL - PSL - Université Paris Sciences et Lettres - CNRS - Centre National de la Recherche Scientifique
Camille Rosenthal-Sabroux: LAMSADE - Laboratoire d'analyse et modélisation de systèmes pour l'aide à la décision - Université Paris Dauphine-PSL - PSL - Université Paris Sciences et Lettres - CNRS - Centre National de la Recherche Scientifique

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Abstract: Tacit knowledge plays an important role in decision-making. That is why, in this paper, we propose a group tacit knowledge-based multicriteria approach for decision processes. This approach is based on a practical case study in the field of second-hand vehicle purchase. This paper proposes ideas and research issues on how to tackle tacit knowledge in group decision processes with cost-benefit and multicriteria decision analysis. Because tacit knowledge cannot always be explained, we use the multicriteria decision analysis to fittingly explain tacit knowledge which can be explained. In order to respect the financial policy of the company that purchases/sells second-hand vehicles, we continue using the cost-benefit analysis already implemented. The goal is to help the buyer and the seller to compromise on the best price.

Keywords: Tacit knowledge; Decision process; Cost-benefit analysis; Multi-criteria decision analysis; Group decision (search for similar items in EconPapers)
Date: 2014
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Published in Journal of Decision Systems, 2014, 23 (1), ⟨10.1080/12460125.2014.863592⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-01499679

DOI: 10.1080/12460125.2014.863592

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