A decision rule for uncertain multicriteria mixed decision making based on the coefficient of optimism
AbstractThis paper is devoted to multicriteria 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 criteria evaluation is often impossible. We propose a procedure for uncertain multi-objective optimization which may be applied when a mixed strategy is sought after. A mixed strategy, as opposed to a pure strategy, allows the decision maker to select and perform a weighted combination of several accessible alternatives. The new approach takes into account the decision maker’s preference structure and attitude towards risk. This attitude is measured by the coefficient of optimism on the basis of which a set of the most probable events is suggested and an optimization problem is formulated and solved.
|Journal series||Multiple Criteria Decision Making, ISSN 2084-1531, (B 12 pkt)|
|Publication size in sheets||0.5|
|Keywords in English||multicriteria decision making, uncertainty, mixed strategy, one-shot decision, scenario planning, optimization model, coefficient of optimism, β-decision rule|
|Score|| = 12.0, 19-12-2019, ArticleFromJournal|
= 12.0, 19-12-2019, ArticleFromJournal
|Citation count*||8 (2020-01-19)|
* presented citation count is obtained through Internet information analysis and it is close to the number calculated by the Publish or Perish system.