Common mistakes in making value trade-offs

Common mistakes in making value trade-offs

0.00 Avg rating0 Votes
Article ID: iaor20032012
Country: United States
Volume: 50
Issue: 6
Start Page Number: 935
End Page Number: 945
Publication Date: Nov 2002
Journal: Operations Research
Authors:
Abstract:

Value trade-offs define how much must be gained in the achievement of one objective to compensate for a lesser achievement on a different objective. Value trade-offs that adequately express a decision maker's values are essential both for good decision making in multiple-objective contexts and for insightful analyses of multiple-objective decisions. This paper identifies and illustrates 12 important mistakes frequently made that limit one's ability to determine useful value trade-offs. It then suggests how to avoid making these mistakes. The intent is to provide practical advice for making good value trade-offs, and hence, better decisions.

Reviews

Required fields are marked *. Your email address will not be published.