A decision rule for uncertain multicriteria mixed decision making based on the coefficient of optimism

Helena Gaspars-Wieloch

Abstract

This 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.
Author Helena Gaspars-Wieloch (WIiGE / KBO)
Helena Gaspars-Wieloch,,
- Department of Operations Research
Journal seriesMultiple Criteria Decision Making, ISSN 2084-1531, (B 12 pkt)
Issue year2015
Vol10
Pages32-47
Publication size in sheets0.5
Keywords in Englishmulticriteria decision making, uncertainty, mixed strategy, one-shot decision, scenario planning, optimization model, coefficient of optimism, β-decision rule
URL http://mcdm.ue.katowice.pl/files/papers/mcdm15(10)_2.pdf
Languageen angielski
Score (nominal)12
Score sourcejournalList
ScoreMinisterial score = 12.0, 19-12-2019, ArticleFromJournal
Ministerial score (2013-2016) = 12.0, 19-12-2019, ArticleFromJournal
Citation count*8 (2020-01-19)
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