Article ID: | iaor19983028 |
Country: | United Kingdom |
Volume: | 48 |
Issue: | 7 |
Start Page Number: | 714 |
End Page Number: | 725 |
Publication Date: | Jul 1997 |
Journal: | Journal of the Operational Research Society |
Authors: | Ringuest J.L., Downing C.E. |
Keywords: | decision theory: multiple criteria |
Multiobjective linear programming algorithms are typically based on value maximization. However, there is a growing body of experimental evidence showing that decision maker behavior is inconsistent with value maximization. Tversky and Simonson provide an alternative model for problems with a discrete set of choices. Their model, called the componential context model, has been shown to capture observed decision maker behavior. In this paper, an interactive multiobjective linear programming algorithm is developed which follows the rationale of Tversky and Simonson. The algorithm is illustrated with an example solved using standard linear programming software. Finally, an interactive decision support system based on this algorithm is developed to field test the usefulness of the algorithm. Results show that this algorithm compares favorably with an established algorithm in the field.