Comparative analysis of utility additive multicriteria methods

Comparative analysis of utility additive multicriteria methods

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Article ID: iaor20014187
Country: Netherlands
Volume: 130
Issue: 2
Start Page Number: 246
End Page Number: 262
Publication Date: Apr 2001
Journal: European Journal of Operational Research
Authors: ,
Keywords: programming: linear
Abstract:

This paper reviews the main variants of the utility additive (UTA) multicriteria method, and systematically compares their predictive performance on two sets of data. It analyses both those cases where the model provides a ranking with errors and those without errors. First, it shows that the reference projects should be chosen carefully in order to elicit as much information as possible from the decision maker: a set of projects satisfying a fractional factorial plan is recommended. Second, it discusses the use of alternative post-optimality methods for solving the problem of multiple solutions and their different predictive performances. Third, it presents the results of simulations based on utility functions involving interdependence between criteria, and shows that UTA handles this problem effectively by an adjustment of its coefficients. Finally, the influence of the model's parameters on the predictive performance is also investigated.

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