A procedure for worst outcomes displacement in multiple criteria decision making

A procedure for worst outcomes displacement in multiple criteria decision making

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Article ID: iaor1988878
Country: United Kingdom
Volume: 16
Start Page Number: 195
End Page Number: 206
Publication Date: May 1989
Journal: Computers and Operations Research
Authors: ,
Keywords: decision theory: multiple criteria
Abstract:

This paper deals with the development of an interactive procedure to generate a unique solution to a decision problem represented as a vector optimization problem. The displaced worst outcomes are used as a reference trajectory in a process of selection of the most preferred decision. The worst compromise decision, described by the worst outcome levels, represents undesirable values which a decision maker would prefer to avoid. In order to model the dynamic features of a preference elicitation process, the authors use the concept of a displaced point, which captures the changes of reference experienced in most decision situations. The procedure is illustrated by a hypothetical example showing the process of reaching a final compromise decision.

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