Sensitivity Analysis In Multi Objective Decision Making
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| Author | : David Rios Insua |
| Publisher | : Springer Science & Business Media |
| Total Pages | : 204 |
| Release | : 2013-06-29 |
| Genre | : Business & Economics |
| ISBN | : 3642516564 |
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 | : Evangelos Triantaphyllou |
| Publisher | : Springer Science & Business Media |
| Total Pages | : 307 |
| Release | : 2013-03-09 |
| Genre | : Business & Economics |
| ISBN | : 1475731574 |
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 | : Ernest R. Alexander |
| Publisher | : |
| Total Pages | : 96 |
| Release | : 1985 |
| Genre | : Transportation |
| ISBN | : |
| Author | : David Rios Insua |
| Publisher | : Springer Science & Business Media |
| Total Pages | : 431 |
| Release | : 2012-12-06 |
| Genre | : Mathematics |
| ISBN | : 1461213061 |
Robust Bayesian analysis aims at overcoming the traditional objection to Bayesian analysis of its dependence on subjective inputs, mainly the prior and the loss. Its purpose is the determination of the impact of the inputs to a Bayesian analysis (the prior, the loss and the model) on its output when the inputs range in certain classes. If the impact is considerable, there is sensitivity and we should attempt to further refine the information the incumbent classes available, perhaps through additional constraints on and/ or obtaining additional data; if the impact is not important, robustness holds and no further analysis and refinement would be required. Robust Bayesian analysis has been widely accepted by Bayesian statisticians; for a while it was even a main research topic in the field. However, to a great extent, their impact is yet to be seen in applied settings. This volume, therefore, presents an overview of the current state of robust Bayesian methods and their applications and identifies topics of further in terest in the area. The papers in the volume are divided into nine parts covering the main aspects of the field. The first one provides an overview of Bayesian robustness at a non-technical level. The paper in Part II con cerns foundational aspects and describes decision-theoretical axiomatisa tions leading to the robust Bayesian paradigm, motivating reasons for which robust analysis is practically unavoidable within Bayesian analysis.
| Author | : E. Beinat |
| Publisher | : Springer Science & Business Media |
| Total Pages | : 249 |
| Release | : 2013-04-18 |
| Genre | : Technology & Engineering |
| ISBN | : 9401588856 |
Environmental decisions must satisfy a multitude of objectives and the matching of a plan, policy or project to such objectives is a matter of both facts and value judgements. Value Functions for Environmental Management provides a systematic approach to the structuring and measurement of value judgements, showing how they drive the decision process and how to make them transparent and effective in support of complex decisions. The value functions that the book describes provide a scheme for the exploration of human values and a tool for transforming them into an analytical model. A clear statement can then be made of the degree to which a decision has achieved its objectives, and how conflicting objectives may be addressed. This does not mean that there is no role for human judgement in the process. Complexity, often coupled with large information gaps, necessitates expert judgement, but the values adopted by the experts are themselves capable of being structured and measured according to the value function methodology presented here, even if the judgements themselves are qualitative and tentative. Value models for expert panels are also presented. The use of the methodology in practice is illustrated by examples. The book contains an extensive subject index.
| Author | : Nolberto Munier |
| Publisher | : |
| Total Pages | : |
| Release | : 2019 |
| Genre | : Decision making |
| ISBN | : 9783030027278 |
This book examines multiple criteria decision making (MCDM) and presents the Sequential Interactive Modelling for Urban Systems (SIMUS) as a method to be used for strategic decision making. It emphasizes the necessity to take into account aspects related to real world scenarios and incorporating possible real life aspects for modelling. The book also highlights the use of sensitivity analysis and presents a method for using criteria marginal values instead of weights, which permits the drawing of curves that depicts the variations of the objective function due to variations of these marginal values. In this way it also gives quantitative values of the objective function allowing stakeholders to perform a comprehensive risk analysis for a solution when it is affected by exogenous variables. Strategic Approach in Multi-Criteria Decision Making: A Practical Guide for Complex Scenarios is divided into three parts. Part 1 is devoted to exploring the history and development of the discipline and the way it is currently used. It highlights drawbacks and problems that scholars have identified in different MCDM methods and techniques. Part 2 addresses best practices to assure quality MCDM process. Part 3 introduces the concept of Linear Programming and the proposed SIMUS method as techniques to deal with MCDM. It also includes case studies in order to help document and illustrate difficult concepts, especially related to demands from a scenario and also in their modelling. The decision making process can be a complex task, especially with multi-criteria problems. With large amounts of information, it can be an extremely difficult to make a rational decision, due to the number of intervening variables, their interrelationships, potential solutions that might exist, diverse objectives envisioned for a project, etc. The SIMUS method has been designed to offer a strategy to help organize, classify, and evaluate this information effectively.
| Author | : Yong Shi |
| Publisher | : World Scientific |
| Total Pages | : 440 |
| Release | : 2000-05-24 |
| Genre | : Business & Economics |
| ISBN | : 9814493120 |
The volume provides users and developers of the IT/S (information technology and systems) with information about the advances in decision making and decision-making support that empower and enable information technology in the direction of productivity and effectiveness of decision making in business. The chapters have been written by well-known international experts in decision making and they explore the frontiers of decision making in the era of IT/S.The book is intended to serve as a research source, scientific reference and business support source, as well as a book of student readings that will appeal to a larger international audience.
| Author | : Jacek Malczewski |
| Publisher | : Springer |
| Total Pages | : 335 |
| Release | : 2015-02-02 |
| Genre | : Science |
| ISBN | : 3540747575 |
This book is intended for the GIS Science and Decision Science communities. It is primarily targeted at postgraduate students and practitioners in GIS and urban, regional and environmental planning as well as applied decision analysis. It is also suitable for those studying and working with spatial decision support systems. The main objectives of this book are to effectivley integrate Multicriteria Decision Analysis (MCDA) into Geographic Information Science (GIScience), to provide a comprehensive account of theories, methods, technologies and tools for tackling spatial decision problems and to demonstrate how the GIS-MCDA approaches can be used in a wide range of planning and management situations.
| Author | : Denis Bouyssou |
| Publisher | : Springer Science & Business Media |
| Total Pages | : 460 |
| Release | : 2006-06-07 |
| Genre | : Business & Economics |
| ISBN | : 0387310991 |
Formal decision and evaluation models are so widespread that almost no one can pretend not to have used or suffered the consequences of one of them. This book is a guide aimed at helping the analyst to choose a model and use it consistently. A sound analysis of techniques is proposed and the presentation can be extended to most decision and evaluation models as a "decision aiding methodology".
| Author | : Achim Sydow |
| Publisher | : EOLSS Publications |
| Total Pages | : 412 |
| Release | : 2010-09-27 |
| Genre | : |
| ISBN | : 1848263279 |
Environmental Systems is a component of Encyclopedia of Environmental and Ecological Sciences, Engineering and Technology Resources in the global Encyclopedia of Life Support Systems (EOLSS), which is an integrated compendium of twenty one Encyclopedias. Environmental Systems is something about data handling, modeling and decision making in the field of environmental systems. It includes related basic knowledge on measurement techniques, modeling techniques and models and their applications for decisions making. Environmental engineering / research are based on measurement techniques and related knowledge of natural and life sciences. Developed mathematical and numerical simulation models are tools and strictly purpose oriented, that means suitable for decision making. The three volumes on Environmental Systems are aimed at the following five major target audiences: University and College students Educators, Professional practitioners, Research personnel and Policy analysts, managers, and decision makers and NGOs.
