Development of software for multiple criteria evaluation

Development of software for multiple criteria evaluation

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Article ID: iaor2007889
Country: Lithuania
Volume: 14
Issue: 2
Start Page Number: 259
End Page Number: 272
Publication Date: Apr 2003
Journal: Informatica
Authors: , ,
Keywords: game theory
Abstract:

This paper considers the main positions of one-sided and two-sided problems. For one-sided problems only the method of solution ‘the distance to the ideal point’ is discussed in the actual version. For two-sided problems a distinction is made between games with rational behaviour and games against nature. The main strategic principles are as follows: simple min–max principle, extended min–max principle, Wald's rule, Savage criterion, Hurwicz's rule, Laplace's rule, Bayes's rule, Hodges–Lehmann rule. Questions of transforming the decision-making matrix are considered. The article gives the description of software as well as an example of an investment variant estimation.

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