Article ID: | iaor1998537 |
Country: | United States |
Volume: | 42 |
Issue: | 11 |
Start Page Number: | 1515 |
End Page Number: | 1523 |
Publication Date: | Nov 1996 |
Journal: | Management Science |
Authors: | Barron F. Hutton, Barrett Bruce E. |
Keywords: | values, decision theory: multiple criteria |
Three published approximation formulae for selecting the best multiattribute alternative based on rank-ordered weights are evaluated. All formulae are surprisingly efficacious in determining the best multiattribute alternative. Rank order centroid (ROC) weights are more accurate than the other rank-based formulae; furthermore, the ROC formula generalizes to incorporate both other forms of partial information about attribute weights and partial rank order information as well. Because an ROC-based analysis is so straightforward and efficacious, it provides an appropriate implementation tool.