Sensitivity Analysis In Multi Objective Decision Making

Author : David Rios Insua
Publisher : Springer Science & Business Media
Page : 193 pages
File Size : 51,7 Mb
Release : 2013-06-29
Category : Business & Economics
ISBN : 9783642516566

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Sensitivity Analysis in Multi-objective Decision Making by David Rios Insua Pdf

The axiomatic foundations of the Bayesian approach to decision making assurne precision in the decision maker's judgements. In practicc, dccision makers often provide only partial and/or doubtful information. We unify and expand results to deal with those cases introducing a general framework for sensitivity analysis in multi-objective decision making. We study first decision making problems under partial information. We provide axioms leading to modelling preferences by families of value functions, in problems under certainty, and moJelling beliefs by families of probability distributions and preferences by familics of utility functions, in problems under uncertainty. Both problems are treated in parallel with the same parametric model. Alternatives are ordered in a Pareto sense, the solution of the problem being the set of non dominated alternatives. Potentially optimal solutions also seem acceptable, from an intuitive point of view and due to their relation with the nondominated ones. Algorithms are provided to compute these solutions in general problems and in cases typical in practice: linear and bilinear problems. Other solution concepts are criticised on the grounds of being ad hoc. In summary, we have a more ro bust theory of decision making based on a weaker set ofaxioms, but embodying coherence, since it essentially implies carrying out a family of coherent dccision anitlyses.

Author : David Rios Insua,Simon French,University of Leeds. Department of Computer Studies,University of Leeds. School of Computer Studies
Publisher : Unknown
Page : 26 pages
File Size : 52,6 Mb
Release : 1988
Category : Decision making
ISBN : OCLC:59073552

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A Framework for Sensitivity Analysis in Discrete Multi-objective Decision-making by David Rios Insua,Simon French,University of Leeds. Department of Computer Studies,University of Leeds. School of Computer Studies Pdf

We introduce several solution concepts, and analytic ways of determining them, which allow us to identify the possible competitors of a current best solution. We analyse, then, distance-based tools for sensitivity analysis, according to some general lines. Finally, we describe some computational experience with a real example and suggest some ways of displaying the information to the decision-maker."

Author : Evangelos Triantaphyllou
Publisher : Springer Science & Business Media
Page : 307 pages
File Size : 43,6 Mb
Release : 2013-03-09
Category : Business & Economics
ISBN : 9781475731576

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Multi-criteria Decision Making Methods by Evangelos Triantaphyllou Pdf

Multi-Criteria Decision Making (MCDM) has been one of the fastest growing problem areas in many disciplines. The central problem is how to evaluate a set of alternatives in terms of a number of criteria. Although this problem is very relevant in practice, there are few methods available and their quality is hard to determine. Thus, the question `Which is the best method for a given problem?' has become one of the most important and challenging ones. This is exactly what this book has as its focus and why it is important. The author extensively compares, both theoretically and empirically, real-life MCDM issues and makes the reader aware of quite a number of surprising `abnormalities' with some of these methods. What makes this book so valuable and different is that even though the analyses are rigorous, the results can be understood even by the non-specialist. Audience: Researchers, practitioners, and students; it can be used as a textbook for senior undergraduate or graduate courses in business and engineering.

Author : Tomas Gal,H.J. Greenberg
Publisher : Springer Science & Business Media
Page : 595 pages
File Size : 41,7 Mb
Release : 2012-12-06
Category : Business & Economics
ISBN : 9781461561033

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Advances in Sensitivity Analysis and Parametric Programming by Tomas Gal,H.J. Greenberg Pdf

The standard view of Operations Research/Management Science (OR/MS) dichotomizes the field into deterministic and probabilistic (nondeterministic, stochastic) subfields. This division can be seen by reading the contents page of just about any OR/MS textbook. The mathematical models that help to define OR/MS are usually presented in terms of one subfield or the other. This separation comes about somewhat artificially: academic courses are conveniently subdivided with respect to prerequisites; an initial overview of OR/MS can be presented without requiring knowledge of probability and statistics; text books are conveniently divided into two related semester courses, with deterministic models coming first; academics tend to specialize in one subfield or the other; and practitioners also tend to be expert in a single subfield. But, no matter who is involved in an OR/MS modeling situation (deterministic or probabilistic - academic or practitioner), it is clear that a proper and correct treatment of any problem situation is accomplished only when the analysis cuts across this dichotomy.

Author : Alan G. Lockett,Gerd Islei
Publisher : Springer Science & Business Media
Page : 620 pages
File Size : 41,6 Mb
Release : 2012-12-06
Category : Business & Economics
ISBN : 9783642492983

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Improving Decision Making in Organisations by Alan G. Lockett,Gerd Islei Pdf

McrM has been an active research area for over 20 years and the previous conferences clearly showed a tremendous growth of interest. A variety of successful applications and recent developments of interactive computer software to support decision making confinn a sustained progress. We therefore decided to make our theme "Inlproving Decision Making in Organisations". '!he aim was to take stock of the impact of multicriteria concepts in organisations and to involve management practitioners from a wide range of backgrounds. To this end the conference was organised round five broad themes and papers were solicited on the following topics:- Psychology - how do individuals in practice use and relate to the methodologies. Organisation - how do our models fit into the decision making framework of real organisations. Application - how have the models been used in practice and what is the users view. Methodology - what are the new areas in model development. Related Areas - is there complementary work eg. Expert Systems which may be attempting to solve very similar problems. '!he call for papers produced an overwhelming response of over 100 papers. '!hey were from a variety of disciplines and applications, and we decided to devote approximately one day to each of the five areas. We are very impressed by the results which can be seen in this edited proceedings.

Author : Edmundas Kazimieras Zavadskas,Dragan Pamučar,Željko Stević,Abbas Mardani
Publisher : MDPI
Page : 490 pages
File Size : 46,8 Mb
Release : 2020-12-15
Category : Science
ISBN : 9783039367788

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Multi-Criteria Decision-Making Techniques for Improvement Sustainability Engineering Processes by Edmundas Kazimieras Zavadskas,Dragan Pamučar,Željko Stević,Abbas Mardani Pdf

The success of any activity and process depends fundamentally on the possibility of balancing (symmetry) needs and their satisfaction. That is, the ability to properly define a set of success indicators. The application of the developed new multi-criteria decision-making (MCDM) methods can be eliminated or decreased by decision-makers’ subjectivity, which leads to consistency or symmetry in the weight values of the criteria. In this Special Issue, 40 research papers and one review study co-authored by 137 researchers from 23 different countries explore aspects of multi-criteria modeling and optimization in crisp or uncertain environments. The papers propose new approaches and elaborate case studies in the following areas of application: MCDM optimization in sustainable engineering, environmental sustainability in engineering processes, sustainable multi-criteria production and logistics processes planning, integrated approaches for modeling processes in engineering, new trends in the multi-criteria evaluation of sustainable processes, and multi-criteria decision-making in strategic management based on sustainable criteria.

Author : Tomas Gal,Theodor Stewart,Thomas Hanne
Publisher : Springer Science & Business Media
Page : 549 pages
File Size : 46,9 Mb
Release : 2013-03-09
Category : Business & Economics
ISBN : 9781461550259

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Multicriteria Decision Making by Tomas Gal,Theodor Stewart,Thomas Hanne Pdf

At a practical level, mathematical programming under multiple objectives has emerged as a powerful tool to assist in the process of searching for decisions which best satisfy a multitude of conflicting objectives, and there are a number of distinct methodologies for multicriteria decision-making problems that exist. These methodologies can be categorized in a variety of ways, such as form of model (e.g. linear, non-linear, stochastic), characteristics of the decision space (e.g. finite or infinite), or solution process (e.g. prior specification of preferences or interactive). Scientists from a variety of disciplines (mathematics, economics and psychology) have contributed to the development of the field of Multicriteria Decision Making (MCDM) (or Multicriteria Decision Analysis (MCDA), Multiattribute Decision Making (MADM), Multiobjective Decision Making (MODM), etc.) over the past 30 years, helping to establish MCDM as an important part of management science. MCDM has become a central component of studies in management science, economics and industrial engineering in many universities worldwide. Multicriteria Decision Making: Advances in MCDM Models, Algorithms, Theory and Applications aims to bring together `state-of-the-art' reviews and the most recent advances by leading experts on the fundamental theories, methodologies and applications of MCDM. This is aimed at graduate students and researchers in mathematics, economics, management and engineering, as well as at practicing management scientists who wish to better understand the principles of this new and fast developing field.

Author : Ernest R. Alexander
Publisher : Unknown
Page : 96 pages
File Size : 52,5 Mb
Release : 1985
Category : Transportation
ISBN : NWU:35556021433941

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Multi-objective Decision Making Methods for Transportation by Ernest R. Alexander Pdf

Author : Salvatore Greco
Publisher : Springer Science & Business Media
Page : 1063 pages
File Size : 50,6 Mb
Release : 2006-01-20
Category : Business & Economics
ISBN : 9780387230818

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Multiple Criteria Decision Analysis: State of the Art Surveys by Salvatore Greco Pdf

Multiple Criteria Decision Analysis: State of the Art Surveys provides survey articles and references of the seminal or state-of-the-art research on MCDA. The material covered ranges from the foundations of MCDA, over various MCDA methodologies (outranking methods, multiattribute utility and value theories, non-classical approaches) to multiobjective mathematical programming, MCDA applications, and software. This vast amount of material is organized in 8 parts, with a total of 25 chapters. More than 2000 references are listed.

Author : Clinton W. Brownley
Publisher : Business Expert Press
Page : 172 pages
File Size : 48,9 Mb
Release : 2013-03-28
Category : Business & Economics
ISBN : 9781606494530

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Multi-objective Decision Analysis by Clinton W. Brownley Pdf

Whether managing strategy, operations or products, knowing how to make the best decision in a complex, uncertain business environment is difficult. You might be faced with multiple, competing objectives, which means making trade-offs. To complicate matters, any uncertainty makes it hard to explicitly understand how different objectives will impact potential outcomes. This book will help you face these problems. It provides a decision analysis framework implemented as a simple spreadsheet tool. This multi-objective decision analysis framework helps you to measure trade-offs among objectives and incorporate uncertainties and risk preferences. With this book, you will be able to identify what information is needed to make a decision, define how that information should be combined, and, finally, provide quantifiable evidence to clearly communicate and justify the decision. The process involves minimal overhead and is perfect for busy professionals who need a simple, structured process for making, tracking, and communicating decisions. This process makes decision making more efficient by focusing only on information and factors that are well-defined, measureable, and relevant to the decision at hand. The framework requires clear characterization of a decision, ensuring that it can be traced and is consistent with the intended objectives and organizational values. Using this structured decision-making framework, anyone can consistently make better decisions to gain competitive and strategic advantage.

Author : Mehrdad Tamiz
Publisher : Springer Science & Business Media
Page : 365 pages
File Size : 47,9 Mb
Release : 2012-12-06
Category : Business & Economics
ISBN : 9783642875618

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Multi-Objective Programming and Goal Programming by Mehrdad Tamiz Pdf

Most real-life problems involve making decisions to optimally achieve a number of criteria while satisfying some hard or soft constraints. In this book several methods for solving such problems are presented by the leading experts in the area. The book also contains a number of very interesting application papers which demonstrate theoretical modelling, analysing and solution of real-life problems.

Author : Simon French,John Maule,Nadia Papamichail
Publisher : Cambridge University Press
Page : 503 pages
File Size : 51,9 Mb
Release : 2009-07-30
Category : Business & Economics
ISBN : 9781139480987

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Decision Behaviour, Analysis and Support by Simon French,John Maule,Nadia Papamichail Pdf

Behavioural studies have shown that while humans may be the best decision makers on the planet, we are not quite as good as we think we are. We are regularly subject to biases, inconsistencies and irrationalities in our decision making. Decision Behaviour, Analysis and Support explores perspectives from many different disciplines to show how we can help decision makers to deliberate and make better decisions. It considers both the use of computers and databases to support decisions as well as human aids to building analyses and some fast and frugal tricks to aid more consistent decision making. In its exploration of decision support it draws together results and observations from decision theory, behavioural and psychological studies, artificial intelligence and information systems, philosophy, operational research and organisational studies. This provides a valuable resource for managers with decision-making responsibilities and students from a range of disciplines, including management, engineering and information systems.

Author : Pushpdant Jain,Kumar Abhishek,Prasenjit Chatterjee
Publisher : CRC Press
Page : 535 pages
File Size : 52,7 Mb
Release : 2024-02-20
Category : Technology & Engineering
ISBN : 9781000882582

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Decision-Making Models and Applications in Manufacturing Environments by Pushpdant Jain,Kumar Abhishek,Prasenjit Chatterjee Pdf

Multi-criteria decision-making (MCDM) has gained vast popularity for its ability to help make decisions in the presence of various similar and conflicting choices.This new volume applies the MCDM theory to solving problems and challenges in manufacturing environments. It discusses using MCDM computational methods to evaluate and select the most optimal solution or method for real-world, real-time manufacutring engineering issues. It details the decision-making process in relation materials selection; identification, assessment, and evaluation of risk; sustainability assessment; selection of green suppliers; and more. The chapter authors demonstrate the application of myriad MCDM techniques in decision-making, including MADM (multiple attribute decision-making), DEA (data envelopment analysis), fuzzy TOPSIS (technique for order preference by similarities to ideal solution), fuzzy-VIKOR (multicriteria optimization and compromise solution); MOORA (multi-objective optimization on the basis of ratio analysis), EWM (entropy weight method), (AHP) analytic hierarchy process, TODIM (TOmada de Decisao Interativa Multicriterio), and others. The volume illustrates these MCDM models in several industries and industrial processes, including for experimental analysis and optimization of drilling of glass fiber reinforced plastic, in the textile industries, for selection of refrigerants for domestic applications, and others.

Author : Christer Carlsson,Robert Fuller
Publisher : Springer Science & Business Media
Page : 360 pages
File Size : 55,8 Mb
Release : 2001-10-09
Category : Business & Economics
ISBN : 3790814288

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Fuzzy Reasoning in Decision Making and Optimization by Christer Carlsson,Robert Fuller Pdf

Many decision-making tasks are too complex to be understood quantitatively, however, humans succeed by using knowledge that is imprecise rather than precise. Fuzzy logic resembles human reasoning in its use of imprecise informa tion to generate decisions. Unlike classical logic which requires a deep under standing of a system, exact equations, and precise numeric values, fuzzy logic incorporates an alternative way of thinking, which allows modeling complex systems using a higher level of abstraction originating from our knowledge and experience. Fuzzy logic allows expressing this knowledge with subjective concepts such as very big and a long time which are mapped into exact numeric ranges. Since knowledge can be expressed in a more natural by using fuzzy sets, many decision (and engineering) problems can be greatly simplified. Fuzzy logic provides an inference morphology that enables approximate human reasoning capabilities to be applied to knowledge-based systems. The theory of fuzzy logic provides a mathematical strength to capture the un certainties associated with human cognitive processes, such as thinking and reasoning. The conventional approaches to knowledge representation lack the means for representating the meaning of fuzzy concepts. As a consequence, the approaches based on first order logic do not provide an appropriate con ceptual framework for dealing with the representation of commonsense knowl edge, since such knowledge is by its nature both lexically imprecise and non categorical.

Author : Rainer Brüggemann,Lars Carlsen,Jochen Wittmann
Publisher : Springer Science & Business Media
Page : 437 pages
File Size : 51,7 Mb
Release : 2013-11-12
Category : Medical
ISBN : 9781461482239

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Multi-indicator Systems and Modelling in Partial Order by Rainer Brüggemann,Lars Carlsen,Jochen Wittmann Pdf

“Multi-indicator Systems and Modelling in Partial Order” contains the newest theoretical concepts as well as new applications or even applications, where standard multivariate statistics fail. Some of the presentations have their counterpart in the book; however, there are many contributions, which are completely new in the field of applied partial order.