A careful look at efficiency and utility in multiple criteria decision making: A tutorial

In this paper the authors discuss several common misunderstandings and pitfalls in multiple criteria decision-making research and provide some suggestions for avoiding them. The discussion focuses on widely used concepts of efficiency and utility. The authors also point out seemingly harmless misunderstandings pertaining to improper use of payoff tables. They illustrate the discussion using graphical and numerical examples. This tutorial is targeted for scholars having a basic knowledge of the theory and methods of multiple criteria decision making, but who have not conducted research in the field.