On Reference Dependent Shortlisting Behavior

2017 ◽  
Vol 18 (1) ◽  
Author(s):  
Dan Qin
Keyword(s):  
Decision Maker ◽  
Multiple Criteria ◽  
Single Criterion ◽  
Choice Procedures ◽  
Dependent Choice ◽  
Choice Set

AbstractThis article studies and characterizes a family of reference-dependent choice procedures. The decision maker is assumed to compare alternatives with a reference alternative by a single criterion or multiple criteria. The choice set contains all alternatives passing the threshold (set by the reference alternative) in terms of all criteria. Characterizations are provided for variants of such choice procedures.

A multicriteria hierarchical approach for portfolio selection in a stock exchange

2021 ◽  
Vol 40 (2) ◽  
pp. 1945-1955
Author(s):  
Maria Bernal ◽  
Pavel Anselmo Alvarez ◽  
Manuel Muñoz ◽  
Ernesto Leon-Castro ◽  
Diego Alonso Gastelum-Chavira
Keyword(s):  
Decision Maker ◽  
Portfolio Selection ◽  
Stock Exchange ◽  
Multiple Criteria ◽  
Financial Ratios ◽  
Hierarchical Approach

The objective of the paper is to present a multiple criteria hierarchical process (MCHP) approach for portfolio selection in a stock exchange. One of the problems that investors usually face is which stock should be included in the portfolio. This paper helps investors answer that question, and the paper presents an MCHP approach using different criteria based on financial ratios that the decision maker (in this case, the investor) will give different weights to make a portfolio based on her preferences; different importance is given to each criterion. An example using the Mexican Stock Exchange is presented.

Choice under Conflict: The Dynamics of Deferred Decision

1992 ◽  
Vol 3 (6) ◽  
pp. 358-361 ◽  
Author(s):  
Amos Tversky ◽  
Eldar Shafir
Keyword(s):  
Decision Theory ◽  
Decision Maker ◽  
Default Option ◽  
Value Maximization ◽  
A Value ◽  
Classical Decision ◽  
Choice Set

Choice often produces conflict. This notion, however, plays no role in classical decision theory, in which each alternative is assigned a value, and the decision maker selects from every choice set the option with the highest value. We contrast this principle of value maximization with the hypothesis that the option to delay choice or seek new alternatives is more likely to be selected when conflict is high than when it is low. This hypothesis is supported by several studies showing that the tendency to defer decision, search for new alternatives, or choose the default option can be increased when the offered set is enlarged or improved, contrary to the principle of value maximization.

scholarly journals An extension of the codas method based on Interval Rough Numbers for multi-criteria group decision making

2021 ◽  
Vol 16 ◽  
pp. 23-43
Author(s):  
Mouna Regaieg Cherif ◽  
◽  
Hela Moalla Frikha ◽  
Keyword(s):  
Risk Assessment ◽  
Decision Making ◽  
Sensitivity Analysis ◽  
Decision Maker ◽  
Group Decision Making ◽  
Group Decision ◽  
Real Life ◽  
Multiple Criteria ◽  
Linguistic Terms

This study aims to develop a new Interval Rough COmbinative Distance-based Assessment (IR CODAS) method for handling multiple criteria group decision making problems using linguistic terms. A single decision maker is unable to express his opinions or preferences on multiple criteria decisions, while a Multi-Criteria Group Decision Making MCGDM process ensures successful outcomes when handling greater imprecision and vagueness information. A real-life case study of risk assessment is investigated using our proposed IR-CODAS method to test and validate its application; a sensitivity analysis is also performed. Keywords: Interval Rough Numbers, group decision making, IR-CODAS method, risk assessment.

scholarly journals Fuzzy Linear Physical Programming for Multiple Criteria Decision-Making Under Uncertainty

2015 ◽  
Vol 11 (1) ◽  
pp. 26 ◽  
Author(s):  
Ahmed ElSayed ◽  
Elif Kongar ◽  
Surendra M. Gupta
Keyword(s):  
Decision Making ◽  
Problem Solving ◽  
Decision Maker ◽  
Multiple Criteria Decision Making ◽  
Multiple Criteria ◽  
Decision Making Under Uncertainty ◽  
Physical Programming ◽  
Fuzzy Environment ◽  
Linear Physical Programming ◽  
Proposed Model

<p>This paper presents a newly developed fuzzy linear physical programming (FLPP) model that allows the decision maker to introduce his/her preferences for multiple criteria decision making in a fuzzy environment. The major contribution of this research is to generalize the current models by accommodating an environment that is conducive to fuzzy problem solving. An example is used to evaluate, compare and discuss the results of the proposed model.</p>

scholarly journals Advances in Cone-Based Preference Modeling for Decision Making with Multiple Criteria

2007 ◽  
Vol 1 (2) ◽  
pp. 153-173 ◽  
Author(s):  
Margaret M. Wiecek
Keyword(s):  
Decision Making ◽  
Decision Maker ◽  
Multiple Criteria ◽  
Solution Set ◽  
Unified Framework ◽  
Nondominated Solutions ◽  
Preference Modeling ◽  
Mathematical Properties ◽  
Different Types ◽  
The Impact

Decision making with multiple criteria requires preferences elicited from the decision maker to determine a solution set. Models of preferences, that follow upon the concept of nondominated solutions introduced by Yu (1974), are presented and compared within a unified framework of cones. Polyhedral and nonpolyhedral, convex and nonconvex, translated, and variable cones are used to model different types of preferences. Common mathematical properties of the preferences are discussed. The impact of using these preferences in decision making is emphasized.

Fuzzy Multi-Criteria Assignment Problems Using Two-Dimensional Fuzzy Soft Set Theory

2016 ◽  
pp. 191-222
Author(s):  
Shyamal Kumar Mondal
Keyword(s):  
Decision Maker ◽  
Set Theory ◽  
Medical Science ◽  
Decision Makers ◽  
Two Dimensional ◽  
Soft Sets ◽  
Assignment Problems ◽  
Single Criterion ◽  
Hungarian Method ◽  
Fuzzy Soft Sets

In this chapter, author has introduced a new concept of two-dimensional fuzzy soft sets together with various operations, properties and theorems on them. Then, an algorithm named 2-DFS has been developed for solving fuzzy multi-criteria assignment problems with multiple decision makers. The performance of this newly proposed method is verified by the popular Hungarian Method in case of solving fuzzy assignment problems with single criterion and single decision maker. By Hungarian Method, one may only solve fuzzy assignment problems with single criterion and single decision maker, in the contrary the advantage of our 2-DFS Algorithm is that by it, any fuzzy assignment problem with any number of criteria and any number of decision makers can be solved effectively. At last,2- DFS Algorithm is applied for solving fuzzy multi-criteria assignment problems in medical science to evaluate the effectiveness of different modalities of treatment of a disease.

scholarly journals ON DOMINANCE AND CONTEXT-DEPENDENCE IN DECISIONS INVOLVING MULTIPLE ATTRIBUTES

2012 ◽  
Vol 28 (2) ◽  
pp. 117-132 ◽  
Author(s):  
Prasanta K. Pattanaik ◽  
Yongsheng Xu
Keyword(s):  
Decision Making ◽  
Decision Maker ◽  
Welfare Economics ◽  
Multiple Criteria ◽  
Context Dependence ◽  
Weak Continuity ◽  
Relative Importance ◽  
Group Decisions ◽  
Dominance Principle ◽  
Better Than

In decision-making involving multiple criteria or attributes, a decision maker first identifies all relevant evaluative attributes in making decisions. Then, a dominance principle is often invoked whenever applicable: whenever an option x is better than an option y in terms of some attribute and no worse than y in terms of any other attributes, x is judged to be better than y. If, however, this dominance principle is not applicable, then the decision maker determines the relative importance between the identified evaluative attributes, consults with contextual features of the options under consideration, and makes a decision. It is shown that the combination of these principles runs into problems in the presence of rationality properties, such as transitivity, and a weak continuity requirement on decisions. The paper gives examples from welfare economics, and theories of individual and group decisions.

Sign in / Sign up

Export Citation Format

Share Document