Article ID: | iaor20063561 |
Country: | South Korea |
Volume: | 30 |
Issue: | 1 |
Start Page Number: | 161 |
End Page Number: | 176 |
Publication Date: | Mar 2005 |
Journal: | Journal of the Korean ORMS Society |
Authors: | Ahn Byeong Seok |
In a situation that ordinal preferences on multiattribute weights are captured, we present two solution approaches: an exact approach and an approximate method. The former, an exact solution approach via interaction with a decision-maker, pursues the progressive reduction of a set of non-dominated alternatives by narrowing down the feasible attribute weights region. Subsequent interactive questions and responses, however, sometimes may not guarantee the best alternative or a complete rank order of a set of alternatives that the decision-maker desires to have. Approximate solution approaches, on the other hand, can be divided into three categories including surrogate weights methods, dominance value-based decision rules, and three classical decision rules. Their efficacies are evaluated in terms of choice accuracy via a simulation analysis. The simulation results indicate that a proposed hybrid approach, intended to combine an exact solution approach through interaction and a dominance value-based approach, is recommendable for aiding a decision making in a case that a final choice is seldom made at single step under attribute weights that are imprecisely specified beyond ordinal descriptions.