Decision support by interval SMART/SWING – incorporating imprecision in the SMART and SWING methods

Decision support by interval SMART/SWING – incorporating imprecision in the SMART and SWING methods

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Article ID: iaor20052709
Country: United Kingdom
Volume: 36
Issue: 2
Start Page Number: 317
End Page Number: 340
Publication Date: May 2005
Journal: Decision Sciences
Authors: , ,
Keywords: decision theory: multiple criteria
Abstract:

Interval judgements are a way of handling preferential and informational imprecision in multicriteria decision analysis (MCDA). In this article, we study the use of intervals in the simple multiattribute rating technique (SMART) and SWING weighting methods. We generalize the methods by allowing the reference attribute to be any attribute, not just the most or the least important one, and by allowing the decision maker to reply with intervals to the weight ratio questions to account for his/her judgemental imprecision. We also study the practical and procedural implications of using imprecision intervals in these methods. These include, for example, how to select the reference attribute to identify as many dominated alternatives as possible. Based on the results of a simulation study, we suggest guidelines for how to carry out the weighting process in practice. Computer support can be used to make the process visual and interactive. We describe the WINPRE software for interval SMART/SWING, preference assessment by imprecise ratio statements (PAIRS), and preference programming. The use of interval SMART/SWING is illustrated by a job selection example.

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