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CUT: a multicriteria approach for concavifiable preferences

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journal contribution
posted on 02.08.2016, 08:26 by Nikolaos Argyris, Alec Morton, Jose Rui Figueira
We consider the problem of helping a decision maker (DM) choose from a set of multiattributed objects when her preferences are "concavifiable," i.e. representable by a concave value function. We establish conditions under which preferences or preference intensities are concavifiable. We also derive a characterization for the family of concave value functions compatible with a set of such preference statements expressed by the DM. This can be used to validate dominance relations over discrete sets of alternatives and forms the basis of an interactive procedure. We report on the practical use of this procedure with several DMs for a flat-choice problem and its computational performance on a set of project-portfolio selection problem instances. The use of preference intensities is found to provide significant improvements to the performance of the procedure.

Funding

This work benefited from partial support by the RAMS grant of the Council of Rectors of Portuguese Universities and the British Council, and COST-Action research grant on Algorithmic Decision Theory [Grant IC0602].

History

School

  • Business and Economics

Department

  • Business

Published in

Operations Research

Volume

62

Issue

3

Pages

633 - 642

Citation

ARGYRIS, N., MORTON, A. and FIGUEIRA, J., 2014. CUT: a multicriteria approach for concavifiable preferences. Operations Research, 62 (3), pp.633-642.

Publisher

© INFORMS

Version

AM (Accepted Manuscript)

Publisher statement

This work is made available according to the conditions of the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International (CC BY-NC-ND 4.0) licence. Full details of this licence are available at: https://creativecommons.org/licenses/by-nc-nd/4.0/

Acceptance date

01/02/2014

Publication date

2014-06-09

ISSN

0030-364X

eISSN

1526-5463

Language

en

Exports