A simulation-based test of stochastic multicriteria acceptability analysis using achievement functions

A simulation-based test of stochastic multicriteria acceptability analysis using achievement functions

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Article ID: iaor2007431
Country: Netherlands
Volume: 170
Issue: 3
Start Page Number: 923
End Page Number: 934
Publication Date: May 2006
Journal: European Journal of Operational Research
Authors:
Keywords: programming: goal
Abstract:

Stochastic multicriteria acceptability analysis using achievement functions (SMAA-A) is a preference model for discrete-choice decision making that inverts the traditional goal programming process by asking what combinations of aspirations are necessary to make each alternative the preferred one, rather than what alternative is preferred given a set of aspirations. In this paper, we test the ability of the model to discern good-performing alternatives from poorly-performing ones using a simulation study. Simulation results show that a suitably detailed construction of the acceptability index is particularly important, and that the resulting model can be fruitfully applied in the selection of a shortlist of alternatives from a larger set with only very limited decision maker involvement.

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