A Decision Rule for Uncertain Multi-Criteria Pure Decision Making and Independent Criteria
AbstractThe paper is concerned with multi-criteria decision-making under uncertainty with scenario planning. This topic has been explored by many researchers since almost all real-world decision problems contain multiple conflicting criteria and a deterministic evaluation of criteria is often impossible. We propose a procedure for uncertain multi-objective optimization which can be applied when seeking a pure strategy. A pure strategy, as opposed to a mixed strategy, allows the decision-maker to select and perform only one accessible alternative. The new approach takes into account the decision-maker’s preference structure (importance of particular goals) and nature (pessimistic, moderate or optimistic attitude towards a given problem). It is designed for one-shot decisions made under uncertainty with unknown probabilities (frequencies), see decision-making under complete uncertainty or decision-making under strategic uncertainty. The novel approach can be used in the case of totally independent payoff matrices for particular targets.
|Journal series||Optimum. Studia Ekonomiczne, ISSN 1506-7637, (B 10 pkt)|
|Publication size in sheets||0.75|
|Keywords in English||uncertainty, multi-criteria decision-making, pure strategies, one-shot decisions, independent criteria, two-stage models|
|Score||= 10.0, 12-03-2020, ArticleFromJournal|
|Citation count*||2 (2020-06-30)|
* presented citation count is obtained through Internet information analysis and it is close to the number calculated by the Publish or Perish system.