Decisionmaking among Multiple-Attribute Alternatives: A Survey and Consolidated Approach
RAND CORP SANTA MONICA CA
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A description and evaluation is made of several existing methods designed to help decision-makers deal with the multiple-decision problem. In all types of decision situations, the alternatives from which a choice must be made are characterized by multiple attributes or properties. As the number of relevant attributes and alternatives increases, the ability of the decisionmaker to handle the problem decreases, and the information-processing requirements may rapidly exceed the decisionmakers processing capacity. Methods to deal with this problem include Dominance, Satisficing, Maximin, Minimax, Lexicography, Additive Weighting, Effectiveness Index, Utility Theory, Tradeoffs, and Nonmetric Scaling. Similarities and differences in the various approaches are demonstrated by a simplified weapon system-selection problem.
- Administration and Management
- Operations Research