Flashcards in MCDA Deck (19)

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1

## Preference relationships

###
Strict preference order

Indifference order

Weak preference order

2

## Alternative

###
also known as attribute

product, policy etc.

3

## Additive Value Function (description)

###
most commonly used

5 criteria that must be satisfied

preferential indépendance, corresponding trade off, interval scale, casing constants, linear/complete compensation

4

## Multiplicatively Value Function

###
multiplication

take logarithms turns into additive

5

## Satisfying levels

###
Simon 1976

Set a satisfactory level of performance for the most important attribute

Eliminate alternatives

Repeat steps for next most important alternative

Can model on an graph with criteria on each axis

Satisfice because unable to maximise

Useful at preliminary stages and routine decisions

Based on bounded rationality

is NOT a prescriptive model

6

## Satisfying levels too strict?

###
Only one alternative remains but still significant attributes not taken into account

Need to be less demanding

7

## Scoring

### Assessing values

8

## Local Scale

### Best alternative in a decision matrix is 1 and worst is 0

9

## Global Scale

### End points defined by the tideland worst performance which could realistically occur

10

## Methods of assigning weights

###
AHP

Direct

11

## Weights

###
Must sum to 1

Can only be between 0 and 1

12

## Analytical Hierarchy Process (AHP) (Description)

###
Matrix with attributes down either side

Comparing two attributes against each other

Aij = K, then Aji = 1/K and Aii = 1

13

## Initial Screening Methods

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Dominance

Satisficing

Disjunctive

14

## Dominance (initial screening)

###
Delete any dominate alternatives from further considerations

If there is obviously one which is far behind the others in all areas

15

## Satisficing (initial screening)

### Simons 1976 model

16

## Disjunctive (initial screening)

### set a threshold value for each criterion

17

## Lexigraphic approach

### Rank attributes and compare alternatives used after satisficing and dominance

18

## Additive value function (method)

###
1 - Measure each alternative on its performance against another alternative

2 - subjective opinion (utility or value)

3 - apply a wight to each alternative to represent relative importance

4 - find the added value on each alternative (weight x v)

19