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Development of Interactive Support Systems for Multiobjective Decision Analysis under Uncertainty

Fumiko Seo and Hidenobu Hamamoto
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Fumiko Seo: Institute of Economic Research, Kyoto University
Hidenobu Hamamoto: Graduate School of Engineering, Hiroshima University

No 637, KIER Working Papers from Kyoto University, Institute of Economic Research

Abstract: This paper presents interactive multiobjective decision analysis support systems, called MIDASS, which is a newly developed interactive computer program for strategic use of expected utility theory. Decision analysis based on expected utility hypothesis is an established prescriptive approach for supporting business decisions under uncertainty, which embodies an effective procedure for seeking the best choice among alternatives. It is usually difficult, however, for the decision maker (DM) to apply it for the strategic use in the realistic business situations. MIDASS provides an integrated interactive computer system for supporting multiobjective decision analysis under uncertainty, which assists to derive an acceptable business solution for DM with the construction of his/her expected multiattribute utility fuction (EMUF).

Keywords: expected multiobjective decision analysis; MIDASS; expected multiattribute utility function (EMUF); intelligent decision support systems (IDSS). (search for similar items in EconPapers)
Pages: 79pages
Date: 2007-08
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