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: | Michalowski Wojtek, Szapiro Tomasz |
Keywords: | decision theory: multiple criteria |
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.